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China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
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Egyptian Minister of Electricity and Renewable Energy, Dr. Mohamed Shaker, affirmed that the ministry and its subsidiaries are working to gradually localize the industry to reach 100% and give priority to the Egyptian product, provided that it conforms to international specifications for the product and ensures that it has the highest quality.
Shaker explained that the localization of the local industry is indispensable for the interest of the country to provide difficult work, and the local product has priority in the Ministry of Electricity, provided that it conforms to international standards, and the percentage of the local component currently in the sector’s projects is 35%, and we plan to reach 55% during the current year, and 70% by 2024.
Shaker added that the expansion of renewable energy projects in Egypt requires the localization of the local industry in this field in preparation for liberalizing the electricity market and creating a competitive market that is in the interest of the citizen and the state and pushes the wheel of economic development.
Shaker explained that the ministry is keen to rely on the local industry to encourage the Egyptian product, even if this causes delays in some cases, such as the plan to change the traditional prepaid meters, and does not back down from this decision, within the framework of the state’s strategy to localize the local industry.
