A Cypriot delegation will visit Cairo next month to resume negotiations over the electricity link-up project with a capacity of 2,000 megawatts between Egypt, Cyprus, and Greece with preliminary investments valued at $4 billion.
The delegation will brief Egyptian electricity minister Mohammed Shaker on the final study of the project, as well as discuss the technical and financial means for execution, government sources told Alborsa News.
Each country will arrange financing cables and substations in their lands and will offer tenders for global companies to manage tasks and electrical supplies once the implementation of the project begins, sources added.
Cyprus has located the cable’s path, while the Egyptian Electricity Transmission Co (EETC) will manage the submarine cable in Egypt, the sources highlighted.
The submarine power cable will extend over 1,707 kilometres at a high cost, sources noted, pointing out that the alliance is projected to discuss this matter next month to maintain establishing the project.
EuroAfrica Interconnector, responsible for the project execution, had announced that electricity interconnection between Egypt, Cyprus, and Greece are still in the pre-operation phase.
The electrical cable will transit 2,000 megawatts from Egypt to Europe through Cyprus, which will turn the country into a main hub for energy in Africa and an electricity exporter to Europe, EuroAfrica said.
State-run EETC will also launch a bid to implement the Egypt-Sudan electricity interconnection project on Tuesday, which is likely to be awarded prior to the end of this year.