The Egyptian Electricity Transmission Company (EETC) and the Saudi Electricity Company signed contracts for the implementation of transformer stations, cables, and overhead lines for the electrical interconnection project between the two countries. The signing ceremony was attended by Mohammed Shaker, Minister of Electricity; Rania Al-Mashat, Minister of International Cooperation; and Abdulaziz bin Salman, Saudi Minister of Energy, via video conference. EETC signed a contract with the ABB-Orascom alliance to implement two transformer stations in the Egyptian territory, and it also contracted with the China Power-Giza Cables-Xian Electrical Engineering alliance to implement the project's overhead lines in Egypt. Moreover, a contract was signed with the Italian company Prisman to implement the submarine cable for the electrical interconnection between Egypt and Saudi Arabia. The electrical interconnection project has a capacity of 3,000 MW, and the commercial operation of the first phase of the project is scheduled to start in 2024. In exclusive statements to Daily News Egypt, Minister Shaker said that the electrical interconnection project's surplus power supply will be exported to neighbouring countries. Shaker said that the investment cost of the project increased to $1.8bn instead of the $1.6bn announced at the time of the initial agreement due to market variables. He noted that the project's cost was supposed to further increase, but the implementing companies took into account those variables from the very beginning. This project comes to enhance the sustainability of electricity supply and increase the connectivity between neighbouring countries. In addition, it will achieve a great added value for both countries.
