23 May 2018 05:06 PM

Egypt, AFESD sign agreement to upgrade power transmission grid

Tuesday، 24 April 2018 - 12:32 PM
Egypt, AFESD sign agreement to upgrade power transmission grid

 

Egypt and the Arab Fund for Economic and Social Development (AFESD) have signed an agreement to develop the electric transmission network on the sidelines of the 2018 World Bank and International Monetary Fund Spring Meetings. 

Worth 200 million US dollars, the project is meant to meet the growing demand for electricity in heavy load areas, said Investment Minister Sahar Nasr on Tuesday24/4/2018.

The project is meant to upgrade and expand the electric transmission grid through establishing transformer stations and adding overhead power lines and ground cables to connect the new plants, Nasr explained. 

Abdel Latif al Hammad, board chairman of the AFESD, said the allocation comes as part of contributions by the fund to projects in Egypt.

He put the total AFESD funds in Egypt at about 5 billion US dollars.

 

MENA

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