Egypt Plans Aggressive Power Expansion
The Egyptian Ministry of Electricity and Energy has announced an ambitious five-year (2007 to 2012) power-expansion plan. The US$6.5 billion plan includes the construction of power stations and transmission lines, and targets an increase in domestic electricity production by another 8.38 GW. Egypt's minister of electricity and energy says that he has secured 90% of the financing for the plan.
Egypt is building several power plants and is considering limited privatization of its electric power sector, which is currently comprised of seven regional state-owned power production and distribution companies.
The country already has several privately owned power plants under construction, including a 700-MW plant being funded by the World Bank for roughly $260 million. Also under contruction is the 64-MW Nag Hammadi hydropower project with financing from the European Investment Bank.
Various other projects are in the works. One of the more important completed projects is the 1500-MW expansion at the Cairo North power complex, which after several delays finally came on-line in mid-2004.
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