Eight contractors have submitted bids for the grid interconnection project between Saudi Arabia and Egypt. The project involves the development of a 900-km long high voltage overhead transmission line (OHTL), which will go through Medina and Tabuk on route to the Gulf of Aqaba. The following international and local companies have submitted their bids:

• Hyundai E&C, US$446.8 million;
• National Contracting Company, US$449.4 million;
• Saudi Services for Electro Mechanic Works, US$463.5 million;
• Larsen & Toubro, US$501.7 million;
• National Petroleum Construction Company, US$522.2 million;
• Aetcon, US$535.6 million;
• Al-Sharif Group & KEC, US$535.9 million;
• Alfanar, US$624.8 million.

The project has an estimated investment of US$1.6 billion and is expected to transport up to 3,000 MW of electricity daily. Egypt will fund up to US$600 million of the total cost.