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Old November 16th, 2011, 04:36 PM   #1
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Egypt: $ 110 Billion Investments to Secure Power Until 2027

Egypt: $ 110 Billion Investments to Secure Power Until 2027

Long- and short-term plans were hatched to establish several power stations to add 60,000 megawatt to the national power grid and transformer stations with a capacity of 77,000 megavolt, said Minister of Electricity Hassan Younis.

"There will also be new extensions and lines up to 245,000 kilometers so the network's generation capacity may be up to 89,000 megawatt by 2027 with investments to the tune of $110 billion," said Younis in a speech before the conference on boosting Egyptian-Chinese trade and economic cooperation, currently in session in Cairo.

He noted that the conference opened new vistas to strengthen cooperation in the domain of energy policy in partnership with specialized sectors in both countries.

The minister praised the role played by the Chinese development bank, which takes part in financing several power projects in Egypt.
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