Dimian said the EGP 136 million price tag represent 25% of the value of the project’s first phase, which aims to supply and install 1 million devices. The project is set to reach approximately 3.98 million devices with the completion of the six-phase project.
The African Development Bank Group (AfDB) is considering a US$50 million finance in favour of a solar energy project in Egypt, an AfDB source with knowledge of the mater told Amwal Al Ghad.
With the sever power shortage Egypt passes through during the summer months, the Egyptian cabinet decided not to switch to daylight saving time this summer.
Eni reached a record level of production of 70 thousand b/d in the Western Desert of Egypt, doubling its level of production in three years. Eni announced in a statement.
Indian petrochemical giant Sanmar plans to invest $350m in the expansion of its Egypt plant Trust Chemical Industries (TCI) in Port Said, raising its total investment in the country to $1.45bn.
Misr Iran Development Bank ( MIDB ) is working on inject EGP100m in an EGP1.5bn ($196.6m) financing for state-owned Egyptian Electricity Holding Company ( EEHC ).