Saudi Electricity acting CEO says Egyptian interconnection project to take 36-52 months

Khaled Al-Gnoon, Saudi Electricity Co.’s acting chief executive

Saudi Electricity Co.’s (SEC) acting Chief Executive Officer, Khaled Al-Gnoon, said that the Saudi-Egyptian electricity interconnection project will be implemented over a period of 36-52 months.

Companies that qualified for this project will implement it within the timeframe and the required specifications, Al-Gnoon said in a statement to Al-Arabiya TV.

With regard to the project financing from the Saudi side, he pointed out that it will be self-financed via the company’s procedures and regulations in force.  

On Oct. 5, Saudi Arabia and Egypt signed agreements for the Saudi-Egyptian electricity interconnection project worth $1.8 billion, according to data compiled by Argaam.