- EETC signs finance agreement for EGP 4 billion
- NBE, CIB, Banque du Caire, and NBK will finance the project
- The project aims at improving transmission infrastructure
The Egyptian Electricity Transmission Company (EETC) has signed a joint financing agreement worth EGP4 billion with the National Bank of Egypt (NBE), the Commercial International Bank (CIB), Banque du Caire, and the National Bank of Kuwait (NBK). The funding will be used for critical transmission and infrastructure projects.
The Minister of Electricity and Renewable Energy, Mohamed Shaker, who was at the signing ceremony, stated that the funding would enable the EETC to improve the transmission in the country. The projects include constructing transformer stations, extending high voltage transmission lines, and enhancing electrical interconnection between Egypt and neighbouring countries.