Minister of Energy and Electricity Ahmed Imam announced on Monday that the cost of constructing the Suez-Samalot 280 kilometre line will be around EGP700m. The minister added that the cost of this investment will be provided by the World Bank, according to a statement issued by the Ministry of Energy and Electricity.
The ministerial statement added that a highly experienced international company will implement the project; however, the name of the company was not disclosed.
The line will channel the electrical energy generated in Suez and Gabal El Zeit Port to the Electrical National Grid, which will then distribute the electricity to local power stations to various Egyptian governorates.
Local construction companies and suppliers will also contribute to the implementation of the project “to maximize the level of participation of local companies”.
Earlier this month, Imam met with a delegation from the World Bank to discuss current and future cooperation between the bank and the electricity sector. The projects the bank has helped finance include power stations in the north of Giza and the south of Helwan, which are currently under construction, while offering technical assistance in issuing tender documents.