Egypt: Parliament approves Saudi interconnection

The Egyptian parliament on 22 August approved an agreement aimed at connecting the electricity grids of Egypt and Saudi Arabia, paving the way for work to start. The agreement was signed by the heads of state of the two countries in Cairo on 22 November 2015. The project will be financed by a loan from the Kuwait Fund for Arab Economic Development. “The fund will provide KD30m [$99.5m] in a loan to be used for implementing this landmark project, which will become a key hub in the Arab electricity grid,” said a parliamentary report on the agreement quoted by Al-Ahram Online.