Saudi-Egypt power link project to start in new year

"The project will be awarded mid-2015, and take three years to complete," Saleh al-Awaji, an undersecretary in the kingdom's Ministry of Water and Electricity, said at an energy technology conference in the Red Sea city of Jeddah.

The link would allow the two countries, separated by the Gulf of Aqaba and the Red Sea, to share power during peak periods.

It will cost $1.5-2.0 billion, Awaji told reporters during the 4th Saudi Arabia Smart Grid and Green Energy conference.