Cairo – Mubasher: The Japan International Cooperation Agency (JICA) will grant the Egyptian Electricity Holding Co a JPY 10.7 billion ($93.8 million) loan to finance electricity distribution firms’ automatic control projects.
Both parties have signed an agreement upon which the JICA will fund these projects over three tranches, as the first will be granted next week, sources told Alborsa News.
These electricity distribution companies include Alexandria Electricity Distribution Co, North Delta Electricity Distribution Co, and North Cairo Electricity Distribution Co.
In October 2016, the Egyptian government signed a consulting contract with JICA to supervise the implementation of the first phases of Cairo Metro Line 4.
On 10 October, Egypt’s Ministry of Electricity and Renewable Energy signed for the second phase of establishing a transport network with the State Grid Corporation of China at a cost up to $250 million (EGP 4.4 billion).
