A Saudi-Emirati agreement to exchange and sell electricity and develop railway connectivity

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The Minister of Energy and Minister of Industry and Mineral Resources, Prince Abdulaziz bin Salman bin Abdulaziz, and the UAE Minister of Investment, Mohammed Al Suwaidi, signed in Riyadh, today, Thursday, a memorandum of understanding to enhance strategic cooperation between Saudi Arabia and the UAE in the fields of electrical and railway connectivity and energy exchange, with the aim of maximizing the common economic benefits between the two countries in these areas.

The memorandum includes agreeing on the general principles of electrical interconnection and the exchange and sale of electricity between the two countries, conducting relevant technical, economic and environmental studies, and coordinating with the member states of the Gulf Cooperation Council regarding the expansion of the Gulf electrical interconnection system in accordance with the provisions of the General Agreement on Electrical Interconnection for the GCC States, in a way that supports the efficiency of energy systems and enhances regional interconnection.

The memorandum also includes agreement on the general principles of railway connectivity between the two countries for transportation and two-way transit of goods and merchandise, which contributes to enhancing logistical integration, raising the efficiency of supply chains, and supporting opportunities for economic development and regional integration, according to the Saudi Press Agency (SPA).