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FINANCIAL NEWS
Egypt, Saudi Arabia elect project to run by 2019
16 Nov 2016
(MENAFN) Egypt’s Ministry of Elect is planning to enhance the interconnection lines with Jordan, Syria, Lebanon and Iraq.
Accordingly, the minister will boost the interconnection lines with Arab nation’s needs investments and stability in the region, particularly with Saudi Arabia.
The Egypt- Saudi Arabia elect interconnection project was not impacted by any political or economic events and it will start working in Q1 of 2019.
In addition, the project is predicted to worth USD1.6bn, while Egypt will pay USD600mn and the funding contributors list includes the Kuwait Fund for Arab Economic Dev.
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