Arab Finance: The Egyptian Electricity Transmission Company (EETC) aims to invest EGP 44.9 billion in the fiscal year (FY) 2025/2026, according to a statement.
Around 53% of the investment will be allocated to completing existing projects, whereas the remaining 47% will be directed to the new ones.
Mona Rizk, Chairwoman of the EETC, highlighted that this strategy intends to improve the electricity network performance to meet increased demand.
Rizk projected that the cash balance would reach EGP 4.556 billion in the budget, while the fixed assets would hit EGP 202.708 billion by the end of the FY2025/2026.
This was attributed to project additions valued at EGP 30.284 billion in this FY, in addition to EGP 5.459 billion during the FY 2024/2025.
Moreover, the company indicated that it has taken the necessary measures to improve the loss ratio.
On his part, Minister of Electricity Mahmoud Esmat noted that the company is working to optimize the operation to boost efficiency, stability, and reliability. This is beside reinforcing the national electricity grid by increasing the capacity of transformer stations and the length of ultra-high and high-voltage transmission lines and cables.
In coordination with the Egyptian Electricity Holding Company (EEHC), EETC is implementing ultra-high and high-voltage transmission projects with the highest quality, while executing electricity interconnection projects with neighboring countries according to relevant agreements.
Meanwhile, Egypt is targeting EGP 136.3 billion in investment in its electricity and renewable energy sector for FY 2025/2026.