Cairo – Mubasher: Egypt implemented a plan worth EGP 2.05 billion for investing in the electricity sector in Upper Egypt during fiscal year 2018/2019, the Middle East News Agency (MENA) reported.
Middle Egypt Electricity Distribution Co. invested about EGP 921.34 million during FY18/19 to meet the rising electricity demands of the growing developmental, economic, and social projects, the company’s chairman Rafaat Shamea said.
In addition, Upper Egypt Electricity Distribution Company also implemented 71.44% of a plan worth EGP 939.811 million, financed by a loan, during the last fiscal year, the company’s chairman Sami Arafa Bassiouny noted.
He added that the company executed 99.11% of a self-financed plan worth EGP 198.11 million directed to electrical networks.
Upper Egypt Electricity Distribution Company also implemented 82.54% of a plan to replace electrical transmission lines with ground cables at a cost of EGP 39.796 million.
