The project is expected to create 1,330 job opportunities during the construction, operation, and maintenance phases.
This was in the presence of Egypt’s Prime Minister, Mostafa Madbouly, and Bavarian State Prime Minister, Markus Soder.
While the volume of Egyptian imports from Germany reached $2 billion during the first half of 2024, compared to $1.9 billion during the same period in 2023, an increase of 5.3%.
The first agreement, valued at €53 million, comprises of concessional development financing as well as a grant for the smart grid development project under the Ministry of Electricity and Renewable Energy
This will advance the state’s vision towards localizing the industry, reducing imports, and increasing the private sector’s participation in development
