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Monday, 25 July 2016

Phase 2 of feed-in-tariff could share the same fate as phase 1 – Electricity Ministry official

Could FiT phase two meet the same fate as phase one? There is no chance of the government giving in and allowing international arbitration for any disputes arising from contracts in phase one of the feed-in-tariff program, a senior official at the Electricity Ministry tells Al Borsa. He appears to be massaging facts here, by stating that under Egyptian law, only domestic arbitration is valid. The official then throws a bomb: There could be changes to the program in phase two, but any disputes would likely to be resolved in Egypt, but that is up to the state to decide and not just the ministry. But the show must go on as they say: 12 electrical transformers as part of the transmission infrastructure for phase on projects in Benban arrived in Egypt yesterday. These will be part of four transmission stations which cost EGP 650 mn to build, Al Borsa reports.

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