The Electricity Ministry unveiled on Wednesday plans to set up the first company for the maintenance services of power plants in light of growing demands for more steam generation units.
The new company will save lots of money that is being spent on maintenance contracts with foreign companies, Electricity Undersecretary Sabah Meshaali said on the sidelines of a conference on the future of energy in Egypt.
The power companies also spend huge amounts on importing spare parts of power plants or on sending them abroad for maintenance, she added.
All heads of Egyptian power companies have agreed to contribute to the capital of the new company after the approval of the Holding Electrical Company, the official said.
She also unveiled talks were held to encourage the manufacturers of power plants to team up with the power companies in the new company.