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The overhead line will be completed in a year Egypt is close to finalising a deal with the European Union and the European Bank for Reconstruction and Development (EBRD) to secure funding of up to €200 million to launch a new power line in the Gebel El Zeit area close to the Red Sea coast, a news report said. The funding will be split into a €165 million soft loan and €35 million as a grant from the European Union to the state-run Egyptian Electricity Transmission Company, informed sources told Ashraq Business, an Arabic financial portal. The report said the funding will be used to launch a 198-km overhead line to transmit electricity produced by wind energy projects in Jabal Al-Zeit. The overhead line will be completed in a year, the news report added. |
