Africa Energy: Egypt spurs electricity grid development with a $1.4bn investment in two years

Electricity-PexelsEgypt has set aside 25-billion Egyptian pounds (around $1.4-billion) to be spent over two years on developing the country’s electricity network, the electricity minister said on Wednesday.

The Minister, Mohamed Shaker, told reporters the government had agreed on a loan worth 60-billion Kuwaiti dinars (around $200-million) from the Kuwait-based Arab Fund for Economic and Social Development to build three new converter stations.

Mr. Shaker gave no further details.source: Reuters

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