Holding Company for Water and Waste Water’s (HCWW) general assembly meeting, presided over by prime minister Mostafa Madbouly, approved fiscal year 2018/2017 draft budget of the company and its subsidiaries.
The estimated draft budget allocated around EGP 2.6 billion for renovation and development projects to boost the efficiency of assets and upgrade services, the state-run firm said in a statement on Thursday.
HCWW’s budget deficit is expected to retreat by EGP 500 million this year compared to the prior fiscal year, along with taking a raft of measures to slash the waste in water by around 27.6%, chairman Mamdouh Raslan said.
The company and its subsidiaries produced around 28.9 million cubic metres of water, covering 98% of Egypt’s population, he added.
HCWW is seeking to treat 10.8 million cubic metres of wastewater across the country in an effort to increase the coverage of drainage networks to 59.7% of the North African nation’s population.
By 2022, the company is working on delivering wastewater services to 4,047 villages in a bid to increase the drainage network coverage in Egypt’s rural areas.