Three power plants are currently being constructed in Beni Suef, El Borloss, and the New Administrative Capital to provide fuel worth of USD 1 bn per annum and boost the electricity, Invest-Gate reports.

The announcement was made in line with a meeting between President Abdel Fattah El Sisi and  Minister of Electricity Mohamed Shaker to discuss power project updates, according to the State Information Service statement.

Shaker had submitted a report to the president on upped electricity subsidy costs, which have increased to EGP 65 bn from EGP 30 bn, following the float of the EGP and the increased fuel prices.

“The Ministry of Electricity currently plans to partner with neighboring countries to integrate electricity policies and make the best use of natural resources,” Shaker asserts.