Egypt, Saudi Arabia Ink $1.6B Electricity Grid Project

Law360, New York (June 3, 2013, 6:39 PM EDT) -- Saudi Arabia and Egypt have signed a $1.6 billion deal to link their electricity grids and allow the two countries to share up to 3,000 megawatts of energy per year, announcing the blockbuster joint venture at a signing ceremony Saturday in Riyadh, Saudi Arabia.

Egypt electricity and energy minister Ahmed Emam said the electricity transmission will take roughly two years to complete. The countries will build more than 820 miles of new power lines, primarily in Saudi Arabia, to link their two electricity systems.

Emam and...
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