Saudi Arabia to Produce 10GW of Wind Energy in Egypt

Saudi Energy Minister Prince Abdulaziz bin Salman and Egyptian Electricity Minister Mohammad Shaker oversee the signing of an agreement to generate electricity with wind energy on Tuesday in Riyadh. (Asharq Al-Awsat)
Saudi Energy Minister Prince Abdulaziz bin Salman and Egyptian Electricity Minister Mohammad Shaker oversee the signing of an agreement to generate electricity with wind energy on Tuesday in Riyadh. (Asharq Al-Awsat)
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Saudi Arabia to Produce 10GW of Wind Energy in Egypt

Saudi Energy Minister Prince Abdulaziz bin Salman and Egyptian Electricity Minister Mohammad Shaker oversee the signing of an agreement to generate electricity with wind energy on Tuesday in Riyadh. (Asharq Al-Awsat)
Saudi Energy Minister Prince Abdulaziz bin Salman and Egyptian Electricity Minister Mohammad Shaker oversee the signing of an agreement to generate electricity with wind energy on Tuesday in Riyadh. (Asharq Al-Awsat)

Egypt and Saudi Arabia signed on Tuesday a memorandum of understanding for the implementation of a 10 gigawatt wind electric power project in Egypt.

The MoU was signed between Saudi ACWA power company and Egypt’s New and Renewable Energy Authority and the Egyptian Electricity Transmission Company.

The Saudi Press Agency (SPA) reported that Saudi Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz held a meeting in Riyadh with Egyptian Minister of Electricity and Renewable Energy Mohammad Shaker.

SPA said that the two ministers discussed the progress of the electricity interconnection project between the two countries.

They also reviewed ongoing preparations for a memorandum of understanding in the fields of electricity, renewable energy and clean hydrogen, and the means to strengthen cooperation between specialized companies in both countries.

Following the meeting, the two ministers oversaw the signing of a memorandum of understanding between the NREA, the Egyptian Electricity Transmission Company, and the Saudi ACWA Power, to implement a project to generate electricity from wind energy with a capacity of 10 GW in Egypt.

The Egyptian Cabinet announced late last month the intention of the Saudi company, ACWA Power, to implement a huge project to generate electricity from wind energy. It noted that this project comes within the framework of cooperation projects between Riyadh and Cairo.



Saudi Investment Minister Emphasizes Role of Transportation, Logistics in Driving Global Development

Officials take part in the panel discussion at the Global Logistics Forum 2024. (SPA)
Officials take part in the panel discussion at the Global Logistics Forum 2024. (SPA)
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Saudi Investment Minister Emphasizes Role of Transportation, Logistics in Driving Global Development

Officials take part in the panel discussion at the Global Logistics Forum 2024. (SPA)
Officials take part in the panel discussion at the Global Logistics Forum 2024. (SPA)

Saudi Minister of Investment Khalid Al-Falih emphasized on Sunday the crucial role of transportation and logistics in driving global development.

During the opening session of the Global Logistics Forum 2024, Al-Falih highlighted the strategic significance of the Middle East, which serves as a pivotal link between East and West due to its prime geographical location.

He acknowledged the rapid advancements in Saudi Arabia’s transportation and logistics sectors, underscoring their direct impact on investment and the national economy.

Speaking on the goals of the Kingdom’s Vision 2030, Al-Falih pointed out that the development of the transportation and logistics sectors is key to achieving a qualitative transformation both locally and regionally, empowering the private sector to play a more significant role in these sectors.

The session, “Logistics Builds Nations, and Nations Build Logistics”, included participation from leading Arab ministers, including Saudi Arabia’s Minister of Transport and Logistic Services Saleh Al-Jasser; Egypt’s Minister of Transport Major General Kamel Al-Wazir; the UAE’s Minister of Energy and Infrastructure, Suhail Al Mazrouei; and Oman’s Minister of Transport, Communications, and Information Technology Eng. Saeed Al-Maawali.

Al-Jasser emphasized that the logistics sector is crucial for realizing the objectives of Vision 2030 by prioritizing and enabling projects across various sectors, such as Hajj and Umrah, tourism, trade, industry, and quality of life. Aligning these priorities has significantly contributed to economic growth and development in the Kingdom.