Where is the power link project between Egypt and Saudi Arabia?

Egypt’s Minister of Electricity and New and Renewable Energies, Mohamed Shaker, revealed that his country was about to sign contracts to build an electricity transmission network to connect 2 gigawatts with the Kingdom of Saudi Arabia .

It is expected that Egypt will fund around 40% of the project, while the Kingdom will pay the remaining 60%. The $ 1.6 billion project aims to connect the two countries’ power grids with power cables stretching 900 km.

According to the “Enterprise” bulletin, the project is expected to be launched in 2023, after the NEOM project in Saudi Arabia delayed its launch date from what was previously planned.

Eight companies have so far submitted their bids for the construction of the project, as part of the tender launched earlier this month. Saudi company Al-Fanar submitted the highest bid to date, amounting to $ 624.8 million, while South Korean company Hyundai EC submitted the lowest bid to date, with a value of $ 446.8 million.

Two consortia submitted their bids in early May to design and build four substations in the two countries at a cost of $ 1 billion. The first consortium, led by China, and the second, which includes Hitachi, Orascom and Saudia for services and electromechanical works, applied to win the contract to implement the substations.