Cairo, (Business News Report) – The GCC Interconnection Authority, the Egyptian Electricity Transmission Company (EETC) and the National Electric Power Company (NEPCO) have held a meeting to discuss the founding principles of a joint electrical interconnection project.
The three parties agreed on an action plan to complete the required procedures during the two-day meeting.
The meeting addressed the preparation of a business case report outlining the benefits of the interconnection (based on a feasibility study), regulatory structure, in addition to risks and financing options before the end of the year, the Jordan News Agency, Petra, reported on Thursday.
In 2019, the three parties signed a memorandum of understanding meant to study the interconnection between the GCC Interconnection Authority, Jordan and Egypt, to serve the three sides’ interests.
The interconnection line would transfer about 2,000 megawatts of electricity in the initial stages of the project, which could be increased later.
last June, Egypt, Jordan and Iraq agreed to bolster security and economic cooperation at a tripartite summit that saw an Egyptian head of state visit Iraq for the first time in three decades.
“Iraq’s recovery paves the way to an integrated system for our region built on the fight against extremism, respect for sovereignty and economic partnership,” Iraqi President Barham Saleh said on Twitter.
The summit held between broached regional issues, as well as ways of bolstering cooperation between Iraq, Jordan and Egypt in the fields of security, energy and trade, according to a joint statement released at the end of the meeting.
Relations between Baghdad and Cairo have improved in recent years. Officials from the two countries have conducted visits.
The Jordanian king visited in early 2019 for the first time in 10 years.
Media reports revealed that Iranian and Saudi officials met in Baghdad in April, their first high-level meeting since Riyadh cut diplomatic ties with Tehran in 2016.
Iraqi analyst Ihsan al-Shamari said that Sunday’s summit was “a message for the United States that Iraq will not only have relations with Iran at the expense of Arab countries”.
In a statement, US State Department spokesman Ned Price said Washington welcomed the “historic” visit, and called it “an important step in strengthening regional economic and security ties between Egypt, Iraq, and Jordan and to advance regional stability”.
Analysts have long said that Iraq is a battleground for influence between arch-foes Washington and Tehran with whom it maintains good relations.