Egypt invests $7.8bln in energy projects during H1-19/20

147 projects were implemented

  
Image used for illustrative purpose. The Mostord oil refinery in Cairo, May 6, 2008.

Image used for illustrative purpose. The Mostord oil refinery in Cairo, May 6, 2008.

REUTERS/Nasser Nuri

Cairo –  Egypt has completed a total of 156 projects in the oil, electricity, and renewable energy sectors with total investments of EGP 28.7 billion during the first half (H1) of the fiscal year (FY) 2019/2020.

In the electricity and renewable energy domain, 147 projects were implemented at a value of around EGP 17 billion, including the 1,465 megawatts (MW) Benban solar park in Aswan with investments of around $2 billion, the Egyptian Minister of Planning, Monitoring, and Administrative Reform, Hala El-Saeed, said in a statement on Monday.

El-Saeed remarked that the electricity sector grew by 1.5% during H1-FY19/20, with 369 completed projects and investments of EGP 57 billion during the past year and a half, including Beni Suef transformesr station.

Meanwhile, the oil sector has seen the completion of nine projects worth EGP 11.7 billion.

The gas and oil refining sectors witnessed a growth of 4.5% and 14.2%, respectively, during H1, compared to the same period of the previous year.

From July 2018 to December 2019, 16 projects worth around EGP 231 billion were set up in the refining sector.

Source: Mubasher

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