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Wednesday, 8 January 2020

Egypt scraps Hydro Power Plant Executive Authority

CABINET WATCH- Egypt scraps Hydro Power Plant Executive Authority: The Madbouly Cabinet approved draft legislation to abolish the Hydro Power Plants Executive Authority during its weekly meeting last week. Hydroelectric assets would be transferred to a new Renewable Energy Development Agency that would be run by the Electricity Ministry.

The cabinet also:

  • Approved the Trade Ministry’s request to extend the international exhibitions subsidy program until the end of the current fiscal year using EGP 125 mn from the Export Development Fund’s budget;
  • Agreed to install temporary smart meters for buildings that illegally obtain electricity;
  • Agreed in principle to hit pause on any procedures for seizure of faltering industrial, tourism, and hospitality projects.

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