Korean GTC in Talks to Invest $540m in Egypt

Korean GTC in Talks to Invest $540m in Egypt

The Korean Green Technology Center (GTC) is planning to invest $450m in waste-to-energy stations across Egypt if the Electricity Ministry agrees to amend the Feed in tariff (FiT) to EGP 3 per KW/h from a current offer of EGP 1.45 per KW/h, Al Borsa reported.

The Chairman of GTC branch in Egypt, Ehab Tahoun, said that the company aims to establish two power plants with a capacity of 20MW/h at a recycling rate of 1000 t/d  in El- Beheira and Masra Matrouh. The governorates have already allocated 10 acres for the power plants, but GTC is still waiting for the results of the negotiations with the Electricity Ministry about the FiT. He added that the company has already held a meeting with the Ministry of Environment to get the required approvals for the project.

Tahoun also pointed that the company is planning to start 8 similar projects in other Egyptian governorates in order to create a mega project that uses trash in producing of electricity.

Dr. Mahinaz El-Baz 318 Posts

Mahinaz El Baz received her PhD degree in International Economics from Helwan University in 2022. She has +10 years of experience in journalism and economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.


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