Cairo – MubasEgypt’s Empower has obtained a preliminary approval for borrowing EGP 70 million to finance the establishment of Nubaria waste-to-energy plant, the company’s chairman Hatem El Gamal told Mubasher.

Building the plant will cost about EGP 100 million, 70% of which will be financed through a loan to be obtained from Banque Du Caire, while the remaining 30% will be self-financed by the company, El Gamal added.

At an output capacity of 24 megawatt (MW) a day, the plant will consume about 160 tonnes of waste per day, totaling around 58,500 tonnes annually.

Empower’s total investments in five waste-to-electricity plants have reached EGP 420 million.

It is noteworthy that Egypt’s ministry of electricity aims to raise the share of waste-to-energy and renewable energy sectors to 55% in total energy production by 2050.

 

Translated by: Zeinab Adel

Source: Mubasher Exclusive

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.