The Minister of Electricity discusses with the South Korean Ambassador ways to support and enhance cooperation opportunities
Dr. Mahmoud Esmat, Minister of Electricity and Renewable Energy, received Ambassador Kim Young-hyun, South Korean Ambassador to Cairo, at the Ministry’s headquarters in the New Capital.
During the meeting, ways of supporting and enhancing cooperation, partnership and investment opportunities in various fields of electricity were discussed, especially new and renewable energy projects, training and capacity building programmes, and benefiting from Korean expertise in the field of extracting and mining ground raw materials, and extracting strategic and rare elements and materials within the framework of the business strategy to maximize returns from natural resources.
The Minister of Electricity welcomed the South Korean ambassador to Cairo, praising the relations, cooperation and partnership between the two countries in the economic fields, pointing to supporting and enhancing cooperation opportunities between the Ministry of Electricity and Renewable Energy and its affiliated companies and bodies and between South Korean companies, and working to increase the participation of Korean companies in sector projects within the framework of cooperation between the two countries in the areas of human resources development, transfer of expertise, skills development and capacity building in various fields of electricity, especially renewable energy, development of distribution systems and reduction of losses..
The meeting, which was attended by Dr. Ahmed Farghaly, Head of the Executive Authority to Supervise Projects for the Construction of Nuclear Power Plants, discussed the possibility of cooperation in the fields of mining, extraction and use of critical earth materials and elements, and benefiting from the technology possessed by Korean companies in this field, as well as communicating with a number of companies concerned to discuss the issue, and supporting cooperation in this field within the framework of the distinguished and extended relations between the two countries.
Esmat said that the electricity and renewable energy sector is keen to support cooperation with South Korean companies in various fields, especially with the Nuclear Materials Authority on the issue of ground raw materials, materials, elements and economic minerals, adding that work will continue within the framework of a general plan to reach the best technology at reasonable prices.
He pointed to the possible facilitations and facilities for financing clean, low-carbon electricity projects and the ministry’s keenness to enhance and exchange experiences with developed countries in this field, explaining the continuation of cooperation with the Korean side and attracting Korean companies to invest in light of the existing cooperation between the two countries, as a number of Egyptian engineers were trained in Korea in many fields, including clean energy, power engineering, remote meter reading, management of maintenance and operation of thermal stations.
He also stressed the importance of these training programs within the framework of the plan to develop the unified national network, and reducing losses within the framework of the ministry’s work strategy, as well as programs for skills development, capacity building, and transfer of expertise.
Dr. Mahmoud Esmat explained a number of projects that Korean companies participated in implementing, which are the North Cairo Company’s distribution system development project, under which a highly efficient distribution system was established in a number of the company’s regions and the capacity building of specialists by sharing Korean expertise in improving the distribution system and reducing losses, and the project of installing a remote reading system using electronic meters and the communications system GPRS In industrial zones in a number of cities, as well as the implementation of some generating stations, and that the Ministry supports cooperation and increasing the contribution of Korean companies in various fields of work during the next stage.
For his part, Kim Young-hyun, South Korean Ambassador to Cairo, praised the achievements and rapid and advanced work in the electricity sector, stressing the strength of economic relations between the two countries, and his keenness to encourage more Korean investors to pump new investments into Egypt.
He pointed out the importance of cooperation in the field of rare earth raw materials and materials and other fields related to the electrical energy sector.
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