Egypt will be launching a 2,000-megawatt electricity interconnection project with Saudi Arabia over the coming period, said the Egyptian Minister of Electricity and Renewable Energy, Mohamed Shaker.
Tenders for implementing the project have been finalised, Shaker added on the sidelines of the first forum of heads of African investment authorities.
Egypt and Saudi Arabia penned a cooperation agreement in 2021 to implement an electricity interconnection project to exchange 3,000 megawatts of power. The project was reportedly going to cost $1.6 billion, with its first phase due operation in the beginning of 2023.
The inaugural forum is taking place in the resort city of Sharm El-Sheikh during the period 11-13 June, under the theme “Integration for Growth.” A total of 33 African countries and representatives of international and African economic institutions are participating in this event.