A Memorandum of Understanding (MOU) between the Governments of the Kingdom of Saudi Arabia and the Arab Republic of Egypt was signed here today in the field of electrical interconnection and exchange of electric power between the two countries, after studies proved the economic feasibility of the project, which is estimated to cost SR 6 billion. On behalf of the Saudi government, Minister of Water and Electricity Engineer Abdullah bin Abdul-Rahman Al-Hossein signed the agreement while for Egypt's government, its Minister of Electricity and Energy Eng Ahmed Mustafa Imam signed the MOU during a ceremony and a press conference held by the two sides at the Ritz-Carlton Hotel in Riyadh. The Saudi Minister of Water and Electricity said that the Memorandum of Understanding for the electrical connection between the two countries is among the most important projects in the electrical grid systems in the Arab countries. In a press statement, he highlighted the benefits for the two countries from the project.
