(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, May 2 (KUNA) -- Kuwait Fund for Arab Economic Development (KFAED) announced on Thursday that the Gulf electrical interconnection expansion project with Kuwait has reached 75 percent of completion, and is expected to be completed next December.
In a press release, KAFED said that this project is one of the most important infrastructure projects that was approved by the GCC to reduce the required electrical reserve in member states, provide joint coverage in emergency situations, benefit from the surplus, and reduce the electrical energy production costs.
It pointed out that the implementation of this project comes as part of the Gulf interconnection expansion projects through by constructing Al-Wafra Station, which will connect the Gulf Cooperation Council Interconnection Authority's (GCCIA) network to Kuwait's through four voltage circuits (400 kilovolts), with the total cost of USD 270 million.
It noted that this project with Kuwait will ensure continued sustainability of electrical energy at all times, pointing out that Kuwait "will be the largest beneficiary of the project," which will raise the supporting capacity of the electricity network in Kuwait to about 3,500 megawatts.
The Gulf electrical interconnection project is considered one of the most important infrastructure projects approved by the GCC, with the goal to support energy in a sustainable manner in the Gulf countries and reduce the cost of energy production.
The Gulf Cooperation Council Interconnection Authority (GCCIA) was established in 2001, with the purpose to create, operate and maintain the interconnection project. (end)
aab

MENAFN02052024000071011013ID1108165515