Egypt needs $12bn in 5 years for electricity crisis: Sisi

Addressing the massive electricity blackouts that plagued most of Cairo on Thursday, President Abdel Fattah Al-Sisi unveiled in a Saturday speech that Egypt needs $12bn (EGP 85bn) investment over the next five years in order to solve the electricity crisis.

The president added that these funds will be invested to enable power stations to bear the increasing demands.

Al-Sisi stated that the electricity sector in the country has been facing difficulties for many years, but they were not addressed. The power grids have not been developed or modernised in a way that could meet the increasing needs because they require “large funds”, the president noted.

Discussing solutions, Al-Sisi said that the electricity capacity should be increased by approximately 2,500 megawatt (MW) every year, in order to able to produce an extra amount of around 12,500 MW after five years.