Prime Minister Mostafa Madbouly met with President and Executive Director of Edra Power, Datuk Mark Ling, an electricity company, on Tuesday.
The meeting was attended by the Minister of Electricity and Renewable Energy, Mohamed Shaker.
During the meeting, the prime minister hailed the existing cooperation with Edra Power, which has been operating in Egypt for about 15 years.
Madbouly stressed that what has been achieved in Egypt over the last five years in the field of electricity is a true success story after the country managed to eliminate the problem of deficit and achieved a surplus in electric power.
Edra Power’s Executive Director expressed interest in the Egyptian market as one of the most important investment markets in the Middle East. He pointed out that the majority of the company’s employees are Egyptians and that the partnership with Egypt is a model for success.
He added that the company is looking to increase its investments in the Egyptian market through the proposal to buy and manage one of the power plants established by Siemens, which would contribute toward reducing the burdens and debt off the Egyptian government, and transfer them to the company that will manage the station.
The official spokesperson for the council of ministers, Nader Saad, said that Madbouly welcomed the study of the bid by Edra Power, along with the other offers received by the ministry of electricity from other companies.
This was in order to reach an agreement that serves the interests of Egypt, increase foreign investment, and reduce the burden on the government. At the same time, it does not affect the mechanisms to provide the service to citizens.