Tender to Implement 1st Phase of Jordan-Iraq Power Grid Project Ends on Monday

The first phase of the Jordan-Iraq power grid project is scheduled to be completed by late 2022. (Reuters)
The first phase of the Jordan-Iraq power grid project is scheduled to be completed by late 2022. (Reuters)
TT

Tender to Implement 1st Phase of Jordan-Iraq Power Grid Project Ends on Monday

The first phase of the Jordan-Iraq power grid project is scheduled to be completed by late 2022. (Reuters)
The first phase of the Jordan-Iraq power grid project is scheduled to be completed by late 2022. (Reuters)

The tender to implement the first phase of the Jordan-Iraq power grid project will end on Monday.

The project, scheduled to be completed by late 2022, will supply Iraq with 400 kilovolts of electricity from Jordan.

The kingdom and Iraq seek to build their electrical interconnection, which would allow for energy exchange in “larger” quantities, reported Jordan's state news agency Petra.

Pevious statements by the Director-General of the National Electricity Power Company (NEPCO), Eng. Amjad Rawashdeh, said the grid is in line with Jordan’s aspiration to link with neighboring countries to exchange electric power, which will stabilize power systems and fulfill plans to establish a joint Arab energy market.

In September 2020, Jordan signed an agreement to sell electricity to Iraq and connect the two countries' power grids.

Rawashdeh said the linkage would be established over two phases.

In the first phase, Jordan will provide 150 megawatts of electricity to Iraq for three years, which can be renewed.

The second phase includes intensifying electrical exchange.

The minister said supplying Iraq with electricity will begin after completing the construction of al-Risha plant in Jordan, and the establishment of the 300-km power line connecting it with the al-Qaim conversion plant in Iraq.

It will be completed within 26 months of the signing of the contract, he added.



Egypt Central Bank Keeps Key Interest Rates Unchanged

A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo
A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo
TT

Egypt Central Bank Keeps Key Interest Rates Unchanged

A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo
A general view of Cairo skyline during sunset, with foggy cold weather around the country, Cairo, Egypt February 2, 2023. REUTERS/Amr Abdallah Dalsh/File Photo

Egypt's central bank kept its key interest rates unchanged on Thursday, it said in a statement.

The overnight lending rate remained at 28.25%, while the overnight deposit rate stood at 27.25%, the central bank said.