Thursday 06 Mar
Minister of Finance Ahmed Kouchouk, and Minister of Environment Dr. Yasmine Fouad emphasized the Egyptian government's keenness to encourage the private sector to invest in waste-to-electricity conversion projects, within the framework of a comprehensive economic vision aimed at increasing the role of the private sector in economic development and attracting foreign investments, especially in the field of the green economy.
Kouchouk stated that the government seeks to adopt competitive mechanisms to attract more investments in these projects, whether through a public-private partnership system or the Public Contracts Regulation Law. This aims to use waste as an alternative to natural gas in electricity generation, and to direct gas resources to higher value-added projects.
He added that there is full coordination between the
Ministries of Finance and Environment to maximize the benefits of these
projects.
Dr. Yasmine Fouad stressed the need to adjust the tariff for
waste-to-energy conversion, to provide greater benefits to operating companies
and encourage them to expand. Adjusting the price of the waste to energy
conversion tariff comes within a large group of controls and incentives, to
encourage the private sector to invest in projects that convert waste to
energy. Three types of waste are converted into energy: organic waste, sludge,
and landfill gases. This helps to reduce the amount of waste in sanitary
landfills and reduce the land areas needed for their construction. The project
contributes to avoiding waste accumulation in governorates and reducing
environmental damage.
It supports Egypt's
efforts to fulfill its international obligations and achieve its nationally
determined contributions and increase foreign investments in the fields of
collection, transportation and recycling. The necessary lands for establishing
the projects have been allocated in 8 governorates, and they can be implemented
gradually throughout three to four years.
She emphasized the government’s dedicated efforts to promote investment in the waste-to-energy sector by raising tariff rates and offering incentives to the private sector. She highlighted the benefits, including fulfilling international commitments, achieving national climate goals, and bolstering foreign direct investment in waste collection, transportation, and recycling.
