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Egypt’s gas delivery project to help save $301.5m annually: WB

: Sunday, July 27 - 2014 @ 06:06

The World Bank, which approved a $500m loan to fund the Egypt Household Natural Gas Connection Project, has said the project would reduce costs for households and lower the government’s bill. Egypt’s government looks set to save $301.5m annually in subsidies by connecting 1.5 million households to the natural gas grid. “Switching households from highly-subsidised, mostly imported LPG, to locally-produced natural gas, will help lower the government’s bill, with each household representing a saving of $201 a year,” the World Bank said.

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Sunday, July 27- 2014 @ 6:06 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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