Egypt + Italy set a timeframe to complete studies for interconnection project

PROJECTS-

Egypt and Italy are set to complete preliminary studies for their planned 3 GW electric interconnection project by 4Q this year, sources from Egypt’s Electricity Ministry told Al Mal. The study conducted by a Norwegian consultancy appointed by the Italian side includes surveying the proposed route, identifying potential starting points in Egypt and Italy, and assessing the depth profile of the Mediterranean Sea. The study, which is funded by the Italian side, will be presented to the Egyptian side for review upon completion, according to the sources.

Who is funding the project? The sources said Egypt would not bear the cost of launching the power link which could be a core for an interconnection project between Egypt and Europe at a later stage. They said that Egypt’s Electricity Transmission Company would receive electricity transmission fees for the project.

Background: The two sides are assessing the potential to build a 3 GW, 2.8k km, HVDC cable that would connect Egypt’s West Sohag region to Italy’s Dolo Substation in the northern Mestre Industrial Area. The corridor is set to meet 5% of Italy’s peak electricity demand, and could expand to include an interconnection with the Gulf.

SUPPLY CHAINS-

ADCB + PaySupp partner to boost supply chain efficiency: Abu Dhabi Commercial Bank’s (ADCB) Egypt branch has inked an agreement with Egyptian B2B fintech company PaySupp to offer financing solutions to supply chain vendors, according to a statement. PaySupp will leverage its platform’s early payment services to grant access to deferred payment options, helping reduce operating costs, improve cash flow, and expand links between suppliers, according to the statement.

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• Mawani launches new shipping service: Emirates Shipping Line (ESL) is launching a new shipping service, ECRC, to Saudi Arabia’s Jeddah Port. The service will connect Jeddah Port, via bi-monthly trips, to China’s Ningbo, Xiamen, and Nansha ports, Malaysia’s Klang port, Jordan’s Aqaba port, and Egypt’s Sokhna port. (Statement)