12 hours ago
Egypt sets $56mln for power expansion
Egypt has boosted investment in power expansion projects by nearly 20 percent to around 2.8 billion Egyptian pounds ($55 million) during the 2025-2026 fiscal year.
The Electricity and Renewable Energy Ministry has allocated the funds for the state-owned South Cairo Electricity Distribution Company (SCEDC).
The investments are nearly 20 percent higher than those approved during the 2024-2025 fiscal year and are intended to develop and upgrade networks managed by SCEDC in the capital and other parts of Egypt, the Arabic language daily Addustour said, quoting a Ministry source.
'The projects will be funded through the Company's own resources and they are part of expansion plans to be executed by the Ministry during the coming fiscal year,' it said.
The paper noted that SCEDC is one of Egypt's largest public power distribution companies, covering nearly 15 percent of the country's area. Its subscribers increased by nearly 295,000 to reach 6.7 million at the end of 2024.
(1 US Dollar = 50.67 Egyptian Pounds)
(Writing by Nadim Kawach; Editing by Anoop Menon)
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