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Supervisor
Elham AbolFateh
AR
Monday 29 May 2017

Business

Agreement inked to establish solar station, solar panels' factory

Wednesday 17/May/2017 - 04:33 PM
Sada El Balad
Minister of Investment and International Cooperation Sahr Nasr، Minister of Military Production Mohammad Saeed el Assar and Minister of Electricity Mohammad Shaker saw on Wednesday the signing of a contract for a study to establish a solar power station and a factory to produce solar panels from silica sand.

A statement released by the Ministry of Investment and International Cooperation on Wednesday said the project aims at producing photovoltaic panels from sand through its several production stages.

Nasr explained that the study will be conducted through a grant worth 200،000 dinars received by the Ministry of Military Production from the Kuwaiti Fund For Arab Economic Development (KFAED). 

She said the grant comes as part of the Investment Ministry's plan to upgrade the solar energy sector in Egypt which aims at secure a 20 percent of the electricity production from renewable energy sources by 2022.

The minister also said a three-way committee will be formed between the Investment، Military Production and Electricity ministries to sponsor the special studies of the project. 

Meanwhile، Assar said the project would contribute to making a leap in the production of solar panels and will provide job opportunities for youths along with achieving a gross economic revenue.

He made it clear that the project will be carried out in two or three years after the finalization of the feasibility studies.SIS

Edited by Ahmed Mohsen

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