Sisi: Egypt to inject $45 billion to double power production

Egypt plans to double its electricity production within the coming period through injecting investments estimated at 400 billion Egyptian pounds (US$45 billion), president Abdel Fattah al-Sisi stated Thursday.

The president made these remarks during a ceremony to announce harvest of 10,000 wheat feddans in the south-western El-Wadi El-Gadid (New Valley) governorate as part of a national project to expand the country’s farmland by reclaiming 1.5 million feddans.

Al-Sisi added that state’s total production of electricity currently reached 26,000 GW and the government is accelerate progress in current investment projects in the sector to double the productivity.

Egypt – whose population is estimated at 90 million- is working on diversifying its energy sources as pursuant to its growing needs of electricity.

Lately, Egypt has signed investment agreements with a number of foreign and Arab states on executing projects in electricity sector notably Saudi Arabia, France, and Japan.