Japan offers $96 m loan for advanced electric meters' project in North Cairo
Tuesday، 01 December 2020 - 11:37 AM
The Egyptian Electricity Holding Co. signed Monday Nov 30 a contract for modernizing the power distribution system and providing the infrastructure needed for installing advanced electric meters in North Cairo.
The deal was signed with Japan's Toyota Tsusho and Elsewedy Electric for Trading and Distribution, in the presence of Minister of Electricity and Renewable Energy Mahmoud Shaker and Japanese Ambassador in Cairo Noke Masaki.
The Japanese government will provide a $96 million loan to finance the project, which covers the areas within the scope of the activities of North Cairo Electricity Distribution Co.
In a statement, the Japanese ambassador said that the project is expected to enhance power distribution efficiency, reduce power outages by 20 percent, improve billing and collection practices and prevent power theft.
The project will also reduce energy waste and this will have its positive effect on the environment, the ambassador added.