“The Industrial development is studying a project of adding the cost of the natural gas to the price of each meter in unallocated lands to solve the problem of transferring natural gas to industrial regions,” said the chairman of the committee of Transmission and Energy in the Egyptian union of investors' assemblies, Mohamed el-Sayed. El-Sayed added this suggestion is included in the implementation's mechanism, studied by the industrial development institution to solve the problem of transferring natural gas to the factories. This includes the National Bank of Egypt, which finances the cost of transferring natural gas nets to industrial regions. The National Bank will also give the Urban Communities Authority a mandate from the industrial development to collect the value of gas transfer from factory owners. El-Sayed pointed out negotiations between the industrial development and urban communities are still ongoing to approve the formula as a prelude to launch the project.
