(Ecofin Agency) - An interconnection network will soon be established to link Egypt and Saudi Arabia. The project is estimated to cost $1.6 billion which will be financed respectively by Egypt ($600 million) and Saudi Arabia ($1 billion).

 Mohamed Shaker (photo), Egyptian Minister of electricity, revealed that the related agreements for the project will be signed by March or April 2018 and construction works are expected to last 2 years.

Once completed, the project will enable Egypt to be part of the Middle East’s interconnected network which exists since 2009. Qatar, Kuwait, Saudi Arabia and Bahrein are already members. 

By joining this network, Egypt will expand its export market for electricity it produces. Currently, the country produces more than it needs, M. Shaker revealed.

Gwladys Johnson Akinocho