According to a statement by Environment Minister Yasmine Fouad, an agreement will be signed soon to establish the first waste-to-energy plant at a total cost worth $150 M.
The factory, which will rely on German technology, will be established first in Giza, added the minister during an expanded meeting with the CEO of the General Authority for Investment and Free Zones (GAFI), Hossam Heiba.
The meeting tackled ways of opening up new vistas of cooperation, especially in terms of investing in the environmental sector in Egypt.
During the meeting, Fouad also noted that six other sites have been selected to set up waste-to-energy plants.
The minister, meanwhile, gave an overview of the detailed process of converting waste to energy, as well as the investment opportunities in such sphere.
For his part, Heiba said that the GAFI gives top priority to environmental projects by launching promotion campaigns to encourage investment in such projects.
He further verified that eco-friendly companies will obtain golden licenses.
He, meanwhile, said that the GAFI opened, over the past week, an eco-friendly industrial complex for household appliances.
Heiba also affirmed his unwavering support to the Environment Ministry in preparing the necessary feasibility studies for the new environmental projects to attain the State’s ultimate goal to realize sustainable economic growth at the environmental level.