Egypt - The Italian Prysmian Group is set to finalize the manufacturing and installation of the €221.6 million submarine cable of the electricity interconnection project between Egypt and Saudi Arabia by the end of December, Asharq Business reported on March 13th, citing three unnamed sources familiar with the matter.
The Saudi kingdom’s share in the cost of the 19-kilometer subsea cable is €114.3 million, while Egypt’s share is €107.3 million, one of the sources said.
The trial run of the $1.8 billion Saudi-Egyptian electricity interconnection project is expected to start by the end of May 2025.
The project will be officially operational in two stages; the first will be in June 2025 with a capacity of 1,500 megawatts (MW) and the second will be in November 2025 with a capacity of 1,500 MW.
Egypt seeks to make use of the electrical capacities it produces daily, which amounts to about 58,000 MW, at a time when the daily consumption is 33,000 MW.
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