Back to the complete issue
Monday, 12 March 2018

Egypt, Cyprus, Greece begin working to implement USD 4 bn electricity interconnection project

Egypt, Cyprus, Greece are moving ahead with a USD 4 bn project to connect their electricity grids: Egypt and Cyprus have approved the route for the 2,000 MW subsea power cable that’s at the heart of a USD 4 bn project to connect the electricity grids of Egypt, Cyprus, and Greece, unnamed government sources tell Al Borsa. The 1,707 km cable has now entered the pre-works phase, according to EuroAfrica Interconnector, which will install the cable. Egypt and Cyprus have also agreed on the cable’s landing point in Egypt, the company says. The financial studies for the project remain underway, and Egypt is also assessing its compliance with security and environmental regulations, according to Electricity Minister Mohamed Shaker. The three countries had agreed in November to conduct feasibility studies on the power linkage, which is expected to become part of a larger connection project between Europe and Africa.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.