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Mon 2 Dec 2013 01:39 PM

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Saudi Arabia inks deal to power Egypt

Electricity to be supplied from Madinah to Cairo via a 1,500km transmission cable - report

Saudi Arabia inks deal to power Egypt
(photo for illustrative purposes only)

Saudi Arabia will provide electricity to Egypt under a deal to be signed by the end of December.

Electricity would be supplied from Madinah to Cairo, via Tabuk, with an 1,500km transmission cable to be installed, Arab News reported.

Saleh Alawaji, chairman of Saudi Electricity Company and deputy minister for electricity in the Kingdom, said the project would be completed within three years.

He said tenders would be floated in 2014 for the project.

Alawaji said the cost of electricity would be calculated based on international energy rates and not on Saudi rates, which were fully subsidised.

He said the Kingdom was required to invest $50bn in electricity generation a year. The Ras Al Khair power plant on the east coast would play a significant role in meeting the Kingdom’s energy needs in the coming months, he said.

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