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Image used for illustrative purpose. The South Cairo Electricity Distribution Company and power station is pictured at the Imbaba area in Cairo, September 26, 2014. Amr Abdallah Dalsh, Reuters
The first phase of the electrical interconnection project between Egypt and Saudi Arabia will be activated in June with a capacity of 1,500 megawatts, Asharq Business reported, citing Egyptian Prime Minister Mostafa Madbouly.
The second phase will follow in the following months, bringing the total capacity to around 3,000 megawatts, in preparation for next summer.
Madbouly also confirmed to Asharq Business that the government will soon announce the offering of stakes in several companies, including four affiliated with the armed forces.
He reiterated the government's commitment to proceed with its initial public offering (IPO) program this year.
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