At a press convention on Thursday, 19 September, Egypt’s Prime Minister Mostafa Madbouly assured the general public that there can be “no return to the ability outages” that had plagued the nation earlier within the 12 months.
The federal government had secured greater than USD 2.5 billion (EGP 121.3 billion) to ensure a gradual gas provide all through the summer time, considerably surpassing the preliminary USD 1.18 billion (EGP 57.3 billion) allocation. Madbouly reaffirmed the federal government’s dedication to making sure an uninterrupted vitality provide, emphasizing that energy cuts wouldn’t be repeated.
The Prime Minister highlighted Egypt’s ongoing shift towards renewable vitality, with plans to introduce an extra 4 gigawatts of photo voltaic and wind energy subsequent 12 months. To assist this transition, EGP 7 billion (USD 144.3 million) has been allotted to reinforce the nation’s electrical energy distribution and transmission networks. Madbouly additionally careworn the importance of the deliberate electrical energy interconnection with Saudi Arabia, which can allow each nations to handle peak masses by sharing vitality. The primary section of the mission is ready to be accomplished earlier than subsequent summer time.
Turning to a current practice accident in Zagazig, which resulted in a number of fatalities, Madbouly expressed his condolences to the victims’ households. He acknowledged the decades-long neglect of Egypt’s railway infrastructure however emphasised the federal government’s ongoing efforts to modernize the system. These efforts embrace upgrading rolling inventory and electrifying signaling towers, with the accident website slated for an automation improve by November—a transfer that, he mentioned, may have prevented the human error behind the crash.
Madbouly additionally mentioned Egypt’s international funding technique, referencing the current go to of German Chancellor Olaf Scholz. A number of initiatives have been signed between the 2 nations, together with collaboration on the high-speed rail line being constructed by Siemens. Scholz praised the mission as a testomony to German-Egyptian cooperation. Moreover, Madbouly highlighted his current talks with Saudi Crown Prince Mohammed bin Salman, which centered on boosting Saudi funding in Egypt.
He famous {that a} joint funding safety settlement with Saudi Arabia is within the works and forecasted that Saudi investments in Egypt may attain USD 5 billion (EGP 242.6 billion). On the similar time, Egyptian investments in Saudi Arabia are thriving, with over 5,700 Egyptian corporations working there, representing a complete worth of SAR 70 billion (EGP 904.7 billion).
Relating to issues over Egypt’s fuel manufacturing, Madbouly acknowledged current disruptions however attributed them to delays in international funding in oil fields. He assured the general public that manufacturing ranges would return to regular by June of subsequent 12 months.
The Prime Minister additionally reaffirmed the federal government’s dedication to human improvement, emphasizing the initiative of Egypt’s President, Abdel Fattah Al-Sisi, “New Begin for Human Improvement.” This bold program goals to reinforce healthcare, schooling, and social companies, with clear objectives and month-to-month progress opinions.
Madbouly concluded by celebrating the commencement of the primary cohort of scholars from Egypt’s non-public universities. He additionally addressed the current outbreak of gastrointestinal sickness in Aswan, reassuring the general public that well being authorities have been investigating the problem and had taken steps to make sure the security of the water provide.