CAIRO: The Holding Company for Water and Wastewater owes 7.3 billion EGP ($1 billion) to various banks and the Ministry of Electricity, said company head Mamdouh Raslan Tuesday.
He told Youm7 that the reason of the debt was that economic bodies had withdrawn money from banks before establishing the company without paying for it.
Regarding water and sanitation projects, he said that there are many being executed with funding from the European Union and the World Bank.
Raslan added that military forces are establishing water desalination plant in Marsa Matrouh with capacity of producing 20,000 cubic meters per day.
Originally published in Youm7.