CAIRO: Tenders for a $1.6 billion power grid that will enable Egypt and Saudi Arabia to share electricity will be launched early next year and construction will start in 2015, Egypt’s electricity and energy ministry said.
“Beginning 2014 the tenders for implementation will start to be launched... Actual implementation on the ground will not start before 2015,” ministry spokesman Latham Khalil said, adding that construction would take two years to complete.
The project aims to allow power trading between two countries.
Peak-time summer power consumption in Saudi Arabia falls between noon and mid afternoon, when air conditioners are used most intensively, while in Egypt the peak is after sunset.
The project will allow the countries to share up to 3,000 MW.
Egypt will cover around 40 percent of the cost while Saudi Arabia will cover the remaining 60 percent.
Saudi Water and Electricity Minister Abdullah Al-Hussayen, Egyptian Prime Minister Hazim Al-Biblawi and Electricity Minister Ahmad Imam attended the signing ceremony.
KSA-Egypt power grid tenders set for 2014
KSA-Egypt power grid tenders set for 2014
Arab Energy Fund takes minority stake in Saudi energy firm APSCO
RIYADH: The Arab Energy Fund has acquired a minority stake in Saudi Arabia’s Arabian Petroleum Supply Co., backing one of the Kingdom’s largest private energy solutions providers as it looks to expand across the Middle East and beyond.
The investment initiates a partnership aimed at pursuing opportunities across the Middle East, North Africa, and select international markets, covering APSCO’s core and adjacent business sectors.
The move underscores TAEF’s commitment to investing in established regional leaders while promoting innovation and sustainable growth across the energy value chain.
According to a press release, the transaction marks The Arab Energy Fund’s first investment of 2026, following an active 2025 during which the fund completed several key deals, including investments in Jafurah Midstream Gas Co. alongside BlackRock and in the platform Tagaddod.
Khalid Al-Ruwaigh, CEO of The Arab Energy Fund, commented on the deal, saying: “APSCO represents a unique platform with strong fundamentals and a proven track record in critical energy segments.”
He added: “This investment aligns with our mandate to support high-quality energy and energy-adjacent businesses that are well-positioned to capture growth across the region and beyond.”
The Arab Energy Fund is a multilateral impact financial institution established in 1974 by 10 Arab oil-exporting countries.
Mohammed Ali Ibrahim Alireza, managing director, APSCO, said: “We welcome The Arab Energy Fund as a strategic partner supporting our next phase of growth.”
He added: “As a pioneer in energy solutions for over 60 years, APSCO remains committed to quality, reliability, and innovation, while continuing to contribute to Vision 2030 by enhancing efficiency and minimizing environmental impact.”
The partnership is designed to bolster APSCO’s long-term growth strategy, operational excellence, and geographic expansion, leveraging TAEF’s regional expertise and institutional network.
APSCO is a Saudi energy company with more than 60 years of experience in integrated energy solutions, including aviation fuels, lubricants, and a nationwide automotive retail network.
The company holds long-term partnerships with global energy leaders, including a 60-year relationship with ExxonMobil for lubricant distribution across several Middle Eastern countries. Since 1999, APSCO has also been the exclusive aviation fueling services provider for Saudia.
