CAIRO – The Public Business Sector Ministry in Egypt said the number of companies and consortiums that applied for managing and operating the company that will be in charge of electric vehicle (EV) charging stations rose to 14.
The increase in the number of applicants came after the ministry extended the deadline of receiving applications to March 24.
The extension was taken upon request of three companies, which voiced keenness to take part in the project.
In a statement, the ministry said an agreement was reached with a host of national investment institutions from the public and private sectors to set up a joint company to establish and manage EV charging stations with an estimated investment cost of around LE450 million.
The company will be funded with a capital of LE150 million and medium-term loans of LE300 million, according to the ministry.
After its establishment, the company will swiftly establish and operate 3,000 EV charging stations within 18 months in the governorates of Cairo, Alexandria, Giza, Sharm el-Sheikh and on highways, it added.
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