By MATT HALL/AFP/Getty Images Egypt has an opportunity to invest billions of dollars in a billion-dollar battery project that would create jobs and generate electricity, according to the Egyptian Ministry of Economy.
The project would create up to 15,000 jobs and create 100,000 electricity-generating jobs over the next decade, the ministry said on Monday.
It would also generate about 30,000 tons of electricity annually.
The project is part of the $3.8 billion plan for Egypt to invest $1.6 billion in a massive battery project.
The plan would cost the government an estimated $3 billion, the state news agency MENA reported.
Egypt has been struggling to improve its grid after it was severely hit by a power outage that shut down a major highway and killed more than 100 people last month.
The government has announced a $1 billion investment in a battery project in Egypt, which will also be used for solar and wind energy.
The ministry also said the battery project would be a key part of Egypt’s ambitious clean energy plan.
It will have an area of around 1,600 square kilometers, with an installed capacity of 500 megawatts, the statement said.
Egypt is trying to upgrade its electricity grid after a power blackout in May.
Egypt’s grid is suffering from frequent outages that shut roads and cut power to thousands of homes.
The outage prompted protests in Cairo.