Egypt seeks funding for joint electricity project with Sudan

Talks are underway with the African Development Bank and Arab Fund for Economic and Social Development to help Egypt and Sudan initiate the project

Egypt seeks funding for joint electricity project with Sudan

World Bulletin/News Desk

Egypt is currently in talks with several fund providers in hopes of securing financing for a major electricity project with Sudan, an Egyptian energy official said Saturday.

Talks are currently underway with the African Development Bank (AfDB) and the Arab Fund for Economic and Social Development to help Egypt and Sudan initiate the project, which would allow the exchange of 250 megawatts daily between the two countries, Gaber al-Desouki, chairman of the state-run Egyptian Electricity Holding Company, told Anadolu Agency.

However, al-Desouki said he could not provide an estimate of the total funds needed for the project, saying this would be determined in ongoing talks between Egypt, Sudan and the fund providers.

The electricity project, if completed, would be one of the largest-ever joint projects between the two countries, al-Desouki added.

In recent months, Egypt has suffered numerous electricity cuts due to high summertime energy consumption and shortages of the fuel needed to run the country's power plants.

The Egyptian government is currently looking into possible means of reducing a widening electricity production deficit, which officials put at between 2,000 and 2,500 megawatts daily.

Last Mod: 20 Temmuz 2013, 14:16
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