Thu, 18 Mar 2021 - 02:14 GMT
Green investment – Wikimedia Commons
CAIRO – 18 March 2021: Egypt has set a number of green projects to accomplish within its Vision 2030. Those included in FY 2020/2021 amount to 691 projects receiving allocations worth LE447.3 billion.
At present, 30 percent of total planned projects are underway while the percentage is expected to reach 50 percent by the end of June 2025 in order to attain the target by 2030.
For that to happen, investments in green projects are planned to double in one year jumping from 15 percent of the budget of the current fiscal year to 30 percent of the budget of FY2021/2022.
The most prominent green projects executed by Egypt are Benban Solar Park in Aswan, and the monorail that will connect the New Administrative Capital and 6th of October city together.
The monorail is one of five projects funded through the five-year green bonds worth $750 million issued by Egypt in September. The other four are wastewater treatment plants in Asyut, Alexandria, and Giza governorates as well as Dabaa Desalination Plant.
Green projects in Egypt are specifically in the sectors of electricity, transport, water, and wastewater.
In the electricity sector, Benban Solar Park is completed at $2 billion and has a capacity of 1,475 megawatts. Another project that is still under progress is Ataqa pumped-storage hydropower plant. Its cost is $2.7 billion and its capacity is 2,400 megawatts. Further, a contract worth LE4.3 billion was signed to build a wind farm in Suez with a capacity of 250 megawatts.
As for the transport sector, the high-speed electric train extending between Alamain and Ain Sokhna passing through the New Administrative Capital, and the monorail are being constructed at $1.2 billion and €2.7 billion, respectively.
Regarding the water and wastewater sector, Bahr Al Baqar wastewater treatment plants is being built at $1 billion with a daily capacity of 5.6 million cubic meters. Another project that is finished already is the wastewater treatment plant at Alamain whose cost is $150 million and whose daily capacity is 150,000 cubic meters.
On the other hand, an extension of Al Gabal Al Asfar wastewater treatment plant is being introduced at LE7.8 billion with a daily capacity of three million cubic meters. Thereby, the total daily capacity of the plant will be 3.5 million cubic meters by 2023.