(MENAFN - Kuwait News Agency (KUNA)) Egyptian Minister of Foreign Trade and Industry Hatem Saleh said Saturday his government is developing an integrated energy strategy aiming to meet the needs of the growth of the industrial sector in the coming five years.
"The government expects a more intensive participation by the private sector in the launching of electricity generating projects in the coming period," the minister said.
He made the press remarks after an expanded meeting hosted by his ministry and gathered ministers of Finance Momtaz Saeed, Electricity and Energy Mahmoud Balba', and Petroleum and Metallurgical Wealth Osama Kamal, as well as Minister of State for Local Development Ahmed Zaki Abdeen.
"The meeting focused on the industrial sector's growing demand for energy in the light of the shortage in gas supplies to the industrial activities," the minister disclosed.
"We've explored ways to remove the obstacles facing the industrial development and increase investment in the production of energy, whether in the conventional or the renewable energies," Eng. Saleh went on.
On his part, Dr. Saeed said the Ministry of Finance is keen on ensuring sufficient funding for the development of the energy sector in order to meet the growth demands of the industrial sector.
"The government is working on a plan for providing sovereign insurance and financial guaranty for the investors in the energy sector," he added.