Back to the complete issue
Sunday, 29 July 2018

Saudi interconnection project pushed to 2022 from 2020 -sources

The USD 1.6 bn Egypt-Saudi power interconnection project has reportedly been pushed to 2022 from 2020, Electricity Ministry sources said on Thursday, Al Mal reports. The plans for the power lines that are meant to run through Saudi Arabia will have to be redrawn with the kingdom planning to establish its USD 500 bn Neom City project. Talks are ongoing with the companies that had bid for the project, including Siemens, ABB, Alstom, and China’s State Grid Corporation, to agree on the best course of action, the sources added. The winning bid was set to be announced in June and the contracts for the interconnection project, which should see Egypt and Saudi exchange up to 3 GW of electricity, were expected to be signed some time this summer.

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 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; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.