The Ministry of Electricity allocated EGP 7bn for the maintenance of cables and equipment, as well as for upgrades of the electricity transmission and distribution companies across Egypt in fiscal year (FY) 2017/2018. El-Husseiny El-Far, a member of the electricity companies’ distribution affairs department at the Ministry of Electricity, said that the strategy of the ministry in the coming FY is focused on upgrading the network grid, establish automatic control centres, and implement the smart metre system. The allocation of all electricity distribution companies in the republic rose in the current FY 2016/2017 by about EGP 500m, as EGP 1.2bn were allocated; however, the flotation of the pound resulted in raising the allocations to EGP 1.7bn. In the coming FY, allocations will increase by 311%, equivalent to EGP 5.3bn. The list of companies to be compensated include Elsewedy Electric, ABB, El Alamia Cables, Egemac, Egypt Cables, and Giza Cables Industries.

Source: Daily News Egypt May 29, 2017 15:22 UTC