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Egypt’s HCWW owes EGP 21.6bn to NIB, electricity ministry

Egypt’s HCWW owes EGP 21.6bn to NIB, electricity ministry
HCWW owes the Ministry of Electricity a total amount of EGP 8 billion

By: Islam Fadl

Cairo – Mubasher: The Egyptian Holding Company for Water and Wastewater’s (HCWW) indebtedness to the National Investment Bank (NIB) and the Ministry of Electricity stood at EGP 21.6 billion, the company’s chairman Mahmoud Raslan told Mubasher.

It was agreed that the Ministry of Finance will pay EGP 13.6 billion to settle the company’s debt owed to NIB, Raslan added.  

Raslan further revealed that HCWW owes the Ministry of Electricity a total amount of EGP 8 billion.

On the other hand, several state-owned bodies are indebted to HCWW, he remarked, noting that the company aims to reach an agreement with these bodies,  together with the Ministry of Electricity to pay off their debts over monthly installments.