Saudi Arabia, Egypt launch $1.5 bln electricity project: Report

Saudi Arabia’s ministry of water and electricity launched a new project to link the kingdom’s grid with Egyptian electricity sources during the first quarter of 2015 with a cost of $1.5 billion. 

Dr.Saleh Al-Awaji, Saudi’s deputy minister for electricity, said the new project will link 14 Arab countries that include the GCC, and an additional eight that are already linked with the North African country. 

According to the Emirates state news agency, Al-Awaji explained that the project should be completed within three years

Abdullah Al-Shehri, the governor of Saudi’s Electricity Cogeneration Regulatory Authority, said the merger between the advanced communication and electricity technology industry will lead to significant energy and fuel savings.

Smart grids are estimated to cost about SAR 14 billion, and will provide SAR 100 billion annually, the report added.