Egypt, Saudi Arabia sign $1.8 bln power grid deal

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Saudi Arabia and Egypt on Tuesday signed an electric grid interconnection project worth $1.8 billion in a live ceremony broadcast by Egyptian state television.

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The signing ceremony, represented by the Saudi Electricity Company and the Egyptian Electricity Transmission Company, was done in the presence of the Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman and Egypt’s Minister of Electricity and Renewable Energy Mohammed Shaker.

The Saudi energy minister said that reaching this important stage of the project is the culmination of the directives of the leaderships of the two countries.

For his part, the Egyptian Minister of Electricity and Renewable Energy, said that the project shows the depth of the Egyptian-Saudi relations.

- With Reuters

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