Electricity Ministry: Egypt, Saudi Arabia sign 3 agreements in electricity field

President Abdel Fattah El Sisi and Saudi King Salman Abdel Aziz witnessed on Friday the signing of 17 agreements and memoranda of understanding.

In a press release, the Electricity Ministry said International Cooperation Minister Sahar Nassr and head of Saudi Development Fund Ibrahim Al Assaf signed an agreement to fund a power plant project in western Cairo at a cost of 100 million dollars.

The power plant is expected to generate 650 megawatts. It is planned to start operating in November 2019.

The project costs 700 million dollars (about 6.5 billion pounds) in which the National Bank of Egypt, Kuwait Fund, Arab Fund and Islamic Development Bank contribute to the funding of the project.

Egypt's Nuclear Power Plants Authority (NPPA) Chairman Atef Abdel Hamid and President of King Abdullah City for Atomic & Renewable Energy (KACARE) Hisham bin Abdullah Yamani signed a cooperation agreement on peaceful use of nuclear energy.

Electricity Minister Mohamed Shaker and his Saudi counterpart Abdullah Al Hussein signed a memorandum of understanding in the electricity and energy field.