$45bn to double Egypt power production
With current electricity generation at nearly 30,000 MW, more investments are required to meet the ever growing power demand
Egypt plans to double its electricity production within the coming period through injecting investments estimated at 400 billion Egyptian pounds (US$45bn), President Abdel Fattah al-Sisi stated last week.
The president made these remarks during a ceremony to announce harvest of 10,000 wheat feddans in the south-western El-Wadi El-Gadid (New Valley) governorate as part of a national project to expand the country's farmland by reclaiming 1.5 million feddans.
Al-Sisi added that state's total production of electricity currently reached 26,000 MW and that the government was accelerating investment projects in the sector to double the productivity.
Egypt - whose population is estimated at 90 million- is working on diversifying its energy sources to respond to its growing electricity needs.
Recently, Egypt has signed investment agreements with a number of foreign and Arab states on executing projects in electricity sector notably Saudi Arabia, France, and Japan.