FINANCIAL NEWS

Egypt approves power grid plan deal with Saudi Arabia

24 Aug 2016

(MENAFN) The Egyptian parliament approved to connect with Saudi Arabia in the power grids plan deal, which are the two biggest systems in the Arab world.

Moreover, the grid will help enhance both sides whole power-generation capacity to more than 90.000 MW.

Both sides signed the agreement in Cairo with a loan, which will carry a 2.5 percent interest rate and will be repaid in installments over 20 years.

In addition, the girds will be joined through three stations; the city of Badr in Egypt, and the two Saudi cities of Medina and Tabuk.

More News

This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more