Cairo – Mubasher: The Egyptian Electricity Transmission Company (EETC) aims to invest EGP 13.383 billion in network replacement, renovation, and expansion projects aimed at improving the performance of the electrical grid in fiscal year 2021/2022.
The state-run firm plans to cut the wasted energy percentage to 3.9% in the coming fiscal year, compared to an expected 3.8% in FY20/21 and an actual 4.35% in FY19/20, the EETC’s Chairman, Sabah Mashaly, said in a statement on Monday.
Cutting the wasted energy percentage will be implemented through the replacement of 33 kilovolt (kv)-networks with 66-kv ones and 132-kv networks with 220-kv ones, she noted.
The expenses and costs are forecast to reach EGP 158.496 billion in the coming fiscal year, compared to an expected value of expenses and costs amounting to EGP 142.990 billion in FY20/21 and an actual value of EGP 128.761 billion in FY19/20.
The company expects to generate revenues of EGP 164.730 billion in FY21/22, compared to an expected EGP 147.459 billion in FY20/21 and an actual EGP 130.592 billion in FY19/20.