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Wednesday, 11 April 2018

Electricity Ministry holds talks to finance USD 500 mn electricity grid connection project with Sudan

The Electricity Ministry is planning to hold talks with 10 regional and international finance institutions to fund a 300 MW electricity grid interconnection project between Egypt and Sudan, which estimated to cost USD 500 mn, according to sources. The organizations the ministry is eyeing include the International Finance Corporation, the European Bank for Reconstruction and Development, the African Development Bank, the Kuwait Fund for Arab Economic Development, and HSBC. Electricity Minister Mohamed Shaker and his Sudanese counterpart Moataz Moussa agreed earlier this week to hold more meetings and complete the necessary arrangements to launch the project in the coming period. Egypt is currently working on an interconnection project with Saudi Arabia and is looking to set up another with Cyprus and Greece.

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