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Egypt’s AEDC to Invest $25.5mln in Projects

Egypt’s Alexandria Electricity Distribution Company (AEDC) is planning to invest nearly 974 million Egyptian pounds ($25.5 million) in domestic projects during the current fiscal year, its Chairman was reported on Monday as saying.

Ihab Al-Faqi told the Arabic language daily Addustour that AEDC would self-fund projects worth nearly EGP505 million ($16.3 million) while the rest would come from other sources.

He said the projects in the 2023-2024 fiscal year, which started on July 1, cover expansion of distribution units, installation of new transformers and construction of new service centres.

Source: Zawya

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