Saudi Arabia and UAE Sign MoU to Enhance Cooperation in Power and Rail Linking

Riyadh, October 8 (KUNA) -- Saudi Arabia’s Minister of Energy and Minister of Industry and Mineral Resources, Prince Abdulaziz bin Salman, and the UAE’s Minister of Investment, Mohamed Al Suwaidi, signed a memorandum of understanding today, Thursday, to strengthen strategic cooperation between the two countries in the fields of electricity interconnection and the exchange and sale of electricity, as well as railway interconnection, with the aim of maximizing shared economic benefits.

The Saudi Press Agency (SPA) reported that the memorandum, signed in Riyadh, includes an agreement on the general principles for electricity interconnection and the exchange and sale of electricity between the two countries, as well as the conduct of relevant technical, economic, and environmental studies.

The agency added that the memorandum also covers coordination on the expansion of the Gulf Cooperation Council (GCC) electricity interconnection system in accordance with the provisions of the General Agreement for Electricity Interconnection among the GCC member states, thereby supporting the efficiency of energy systems and enhancing regional integration.

It further clarified that the memorandum includes an agreement on the general principles for railway interconnection between the Kingdom of Saudi Arabia and the United Arab Emirates to facilitate the two-way transport and transit of goods and cargo, contributing to strengthened logistical integration, improved supply chain efficiency, and enhanced opportunities for economic development and regional integration. (End) A.S. / M.A.A.