A consortium of ten banks is offering a loan of $1.3bn, EGP 10bn, of financing to the state-run Egyptian Electric Holding Company (EEHC) with new terms.
President Abdel Fattah al-Sisi discussed rationalising energy and reducing waste during a meeting with the electricity and petroleum ministers on Wednesday.
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.
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 ).
Egyptian Electricity Transmission Company (EETC) signed on Thursday a deal to establish a transformer station worth 210.8 million pounds (US$27.6 million) in the Suez Canal region.