Hassan Yunis Egypt’s minister of electricity as saying that Egypt has earmarked almost EGP 16 billion for investment in electricity for the FY 2009-2010.
He said that the new investment will be used in carrying out several electricity production, transportation and distribution projects as part of the country’s five year plan for 2007-2012.
He pointed out that the five year plan has been set out by the electricity sector in order to provide power to all development purposes. Furthermore, four 1,000 MW steam units and two 500 MW gas units are expected to start operating during this fiscal year.
The minister added that 550 kilometers power lines and ground cables would be extended this year to feed networks to deliver energy from power generation plants to distribution networks and then to load centers.