KSA - Egypt Power Grid costing US$ 1.5 billion to kick of in 2015
Posted on 18th December 2014
The Saudi-Egyptian Electricity Grid project will start next year at a cost of at least US$ 1.5 billion, according to officials, said news reports in AMEinfo. Fourteen Arab states will join the power linkage system between Saudi Arabia and Egypt, says Saleh al-Awaji, an undersecretary in the kingdom’s Ministry of Water and Electricity. The project will be awarded mid-2015, and take three years to complete,” AFP quotes Awaji as saying. The project will cost US$1.5-2.0 billion, Awaji tells reporters during the 4th Saudi Arabia Smart Grid and Green Energy conference.
A project aimed at linking the power grids of electricity-hungry Egypt and Saudi Arabia to help meet peak-time demand is expected, according to Egyptian Electricity Ministry undersecretary Aktham Abul Ela.Gaber Desouky, chairman of the Egyptian Electricity Holding Company, says: “The power link project with Saudi Arabia is in the final stages of the award.”The Egyptian investment is estimated at US$ 600 million while Saudi Arabia’s will reach about US$ 900 million, he adds.
In September, Egypt’s President Abdel Fattah el-Sisi said his country’s power sector: “needs colossal investment” to deal with power blackouts.Saudi Arabia, which is entirely dependent on oil and gas for its electricity production, has a peak electricity load of 57 gigawatts, which is expected to increase.
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