By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
    Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
    June 1, 2023
    Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
    Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
    June 1, 2023
    Egypt hosts InnoXera Summit on education in artificial intelligenceage
    Egypt hosts InnoXera Summit on education in artificial intelligenceage
    June 1, 2023
    Egyptian economy offers great competitive advantage, diversified investment opportunities: Ayman Soliman
    Egyptian economy offers great competitive advantage, diversified investment opportunities: Ayman Soliman
    June 1, 2023
    Egypt's new membership in New Development Bank enhances South-South cooperation: Al-Mashat
    Egypt’s new membership in New Development Bank enhances South-South cooperation: Al-Mashat
    June 1, 2023
  • Politics
    PoliticsShow More
    India train crash kills at least 207, injures hundreds 
    India train crash kills at least 207, injures hundreds 
    June 3, 2023
    Madbouly reaffirms Egypt’s unwavering assistance for Palestine
    Madbouly reaffirms Egypt’s unwavering assistance for Palestine
    June 1, 2023
    Egypt reiterates firm position in support of Palestinian cause: Shoukry
    Egypt reiterates firm position in support of Palestinian cause: Shoukry
    June 1, 2023
    Egypt and France discuss joint cooperation in the health sector
    Egypt and France discuss joint cooperation in the health sector 
    June 1, 2023
    AU praises Egypt's role in achieving sustainable peace in Africa despite challenges
    AU praises Egypt’s role in achieving sustainable peace in Africa despite challenges
    May 31, 2023
  • Interviews
    InterviewsShow More
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    EFG Finance to launch unified platform gathering all its financing services: Alaa Al-Afifi
    May 31, 2023
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    I changed my artistic path to create ‘state of wonder’: Tarek Lotfi
    May 25, 2023
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    I adore Ramadan drama, ‘Telt Al-Talata’ series achieved great success: Ghada Abdel Razek
    May 8, 2023
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    We aim to establish Egypt as nearshore centre for Software AG for MET region: Rami Kichli
    April 29, 2023
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    Egypt-Spain relations witness remarkable development in recent years: Spanish ambassador in Cairo
    April 18, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: EETC is offering a tender for establishment of four transformer stations
Share
Notification
Latest News
India train crash kills at least 207, injures hundreds 
India train crash kills at least 207, injures hundreds 
Politics Breaking News World
Adding flavour of innovation to F&B industry in Africa
Adding flavour of innovation to F&B industry in Africa 
Women
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Women
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Banking
Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
Egypt, GIZ sign agreement of €8m to support e-government, innovation in management
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > EETC is offering a tender for establishment of four transformer stations
Business

EETC is offering a tender for establishment of four transformer stations

Mohamed Farag
Last updated: 2017/02/27 at 5:26 PM
By Mohamed Farag 3 Min Read
Share
SHARE

The Egyptian Electricity Transmission Company (EETC) is offering a tender next week for the establishment of four transformer stations at a value of €120m.

Gamal Abdel Rahim, head of the EETC, told Daily News Egypt that the tender includes stations in Eastern Sohag at 500KV voltage, Qena at 500KV voltage, Zagazig at 500KV, and Bilbeis at 220KV voltage.

This tender is included in the EETC’s plan to strengthen the national electricity grid to accommodate the additional capacities.

Abdel Rahim explained that the EETC agreed with the National Bank of Egypt (NBE) on borrowing EGP 18bn to strengthen the national electricity grid. The Ministry of Finance and the Central Bank of Egypt (CBE) will bear the interest on the loan, while EETC will be responsible for the repayment of the original value of the loan.

The company will sign a contract within 10 days, and it will be a long-term contract. The contract will be disbursed through two tranches to pay dues of companies that are implementing the new projects for the expansion and development of the transmission grid.

The repayment period of the loan extends over 15 years, including three grace years. Loans are to be allocated for the implementation of a comprehensive plan extending over 3 years.

During its last meeting headed by Prime Minister Sherif Ismail, the cabinet approved to provide the two EEHC and EETC loans worth EGP 37bn. The Ministry of Electricity has received an official letter of approval last week.

The cabinet’s approval came as part of President Al-Sisi’s instructions and the importance of allocating necessary funding to improve the two networks of electricity transmission and distribution, as well as increase the network’s ability to accommodate new electricity capacities of more than 18,000MW until 2018.

Minister of Electricity Mohamed Shaker had revealed in previous statements the details of the plan to develop the two networks of electricity transmission and distribution to accommodate generating capacities from the plants in Borollos, the New Administrative Capital, Beni Suef, and south of Helwan through establishing modern electricity lines, supporting the existing lines, creating new transformer plants, or expanding the current lines.

Abdel Rahim explained that three transformer plants are under construction in the Beni Suef industrial city, Tami Amdid, and east of Ismailia with a capacity of 220–500KV. The construction will be completed early next year.

Three transformer plants with 220KV capacity are being constructed as well. They include investors’ transformer plants, Al Hadaba 2 transformer plant, and the Imbaba plant. They will be opened mid-2017 and were constructed using the thermal isolation technology, which is the latest technology currently being used.

You Might Also Like

Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone

Egypt, GIZ sign agreement of €8m to support e-government, innovation in management

Egypt hosts InnoXera Summit on education in artificial intelligenceage

Egyptian economy offers great competitive advantage, diversified investment opportunities: Ayman Soliman

Egypt’s new membership in New Development Bank enhances South-South cooperation: Al-Mashat

TAGGED: EETC, The Egyptian Electricity Transmission Company, transformer stations
Share this Article
Facebook Twitter Email Print
Previous Article Following Copts’ exodus from Al-Arish, armed forces continue operations 
Next Article Windy City Squash Open celebrates its quarterfinals with the presence of seven Egyptian champions 
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

India train crash kills at least 207, injures hundreds 
India train crash kills at least 207, injures hundreds 
Politics Breaking News World
Adding flavour of innovation to F&B industry in Africa
Adding flavour of innovation to F&B industry in Africa 
Women
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Egypt’s Women on Boards Indicator records 19.7% in 2022 with 3% growth
Women
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Suez Canal Bank signs protocol with Chinese TEDA to support investment in SCZone
Banking
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?