Upgrading Egypt’s power grid needs billions: govt

: Thursday, April 24 - 2014 @ 10:24

The Egyptian electricity ministry has said the country needs to find at least $5bn to invest in its dilapidated power grid, Reuters has reported. While gas shortages have been blamed for the crisis, senior electricity ministry official Sabah Mohamed Mashaly said modernising the grid should be a priority. “We don’t have any (capacity) reserves, we just cover the load demand,” Mashaly told the news service. Renovating Egypt’s 51, mainly gas-fired, power stations, and building new ones would carry a price tag for cash-strapped Egypt of “no less than $4bn or $5bn” plus several billions more to boost the generation capacity of the system, she said.

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Thursday, April 24- 2014 @ 10:24 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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