Cairo – Mubasher: Egypt implemented a plan worth EGP 2.05 billion for investing in the electricity sector in Upper Egypt during fiscal year 2018/2019, the Middle East News Agency (MENA) reported.

Middle Egypt Electricity Distribution Co. invested about EGP 921.34 million during FY18/19 to meet the rising electricity demands of the growing developmental, economic, and social projects, the company’s chairman Rafaat Shamea said.

In addition, Upper Egypt Electricity Distribution Company also implemented 71.44% of a plan worth EGP 939.811 million, financed by a loan, during the last fiscal year, the company’s chairman Sami Arafa Bassiouny noted.

He added that the worth EGP 198.11 million directed to electrical networks.

Upper Egypt Electricity Distribution Company also implemented 82.54% of a plan to replace electrical transmission lines with ground cables at a cost of EGP 39.796 million.

Source: Mubasher

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