Companies to submit financial offers for Egypt-Saudi interconnection project this month

Companies vying for the Saudi-Egyptian electricity grid interconnection project will be submitting their financial offers at the end of October, unnamed government sources tell Al Borsa. The Egyptian Electricity Transmission Company and Saudi Arabia have assessed technical offers from Alstom, ABB, and Siemens, the sources say. The chosen firm will establish two substations in Badr City and the lines connecting them to the switch station in Nabq. The USD 1.6 bn, three-phase project will see both countries exchange about 3 GW of power and should start trial operations by 2021, according to the sources. The Electricity Ministry had previously said operations would begin by 2019.