Egypt to pump $318m to install 5,000 telecom towers, says minister

RIYADH: Egypt plans to install 5,000 communication towers with an investment of 5 billion Egyptian pounds ($318 million) over the next three years, Al Arabiya reported citing the country’s minister of communication and IT.

Amr Talaat said the project will be carried out in cooperation with IHS Towers.

The minister said the Egyptian telecommunication sector witnessed 16 percent growth in 2021. “It (now) contributes 5 percent to the gross domestic product, up from 3.2 percent three years ago,” Talaat said. 

“We look forward to increasing the sector’s contribution to 8 percent in the next three years,” the minister added.