G-15 News

UAE Keen to Partake in Indonesian SWF Fund

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Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, expressed interest to participate in the construction of Indonesia’s new capital city in Indonesia under the sovereign wealth fund (SWF) concept. (<b><a href="https://en.antaranews.com/news/139584/uae-keen-to-partake-in-indonesian-new-capital-development">more</a></b>)<br />
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"Hence, (we) specifically discussed the development of a new capital city. Hence, with this sovereign wealth fund, the Crown Prince expressed his commitment to join," Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Panjaitan stated at a press conference at the Emirates Palace in Abu Dhabi on Sunday night.<br />
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Panjaitan, Foreign Minister Retno Marsudi, Coordinating Minister for Economic Affairs Airlangga Hartarto, State Enterprises (BUMN) Minister Erick Thohir, and Indonesian Ambassador to the UAE Husin Bagis held a press conference after accompanying President Jokowi during a state event at the Qasr Al Watan Palace in Abu Dhabi.<br />
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The UAE’s intent to be involved in various investment projects in Indonesia, including the construction of a new capital, was conveyed at a bilateral meeting between Jokowi and the Crown Prince.<br />
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"It was mentioned that the value would be the biggest as compared to IDFC or Softbank funds and others," he said.<br />
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In response to the Crown Prince's interest, President Jokowi requested him to lead the steering council for the new capital city construction.</div>

UAE Keen to Partake in Indonesian SWF Fund

illustration Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, expressed interest to participate in the construction of...

Egypt-Sudan Electricity Linkage Step Towards African Power Grid

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The Egyptian-Sudanese electricity linkage is a serious step towards similar linkages with other African nations, said the political adviser of the African Parliament's head.<br />
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Mostafa al-Guindy, an Egyptian lawmaker and head of the parliamentary block of North Africa, said such linkages will turn Egypt into a regional hub for the exchange of power, especially that the country succeeded in creating a surplus of electricity.<br />
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Several African countries urgently need electricity, hence the paramount importance of a power network that connects the states in the continent, Guindy said, adding that such a project would sustain electrical power for all participating countries.<br />
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He called on African governments to facilitate the requirements of the hopeful project, as well as Egypt's other direction to establish a network of roads and railways connecting African countries to achieve economic and commercial integration and investment projects in different fields.<br />
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Minister of Electricity and Renewable Energy announced that electricity linkage with Sudan started experimental operation on Sunday, planning to official launch the project in a ceremony by the end of this week.<br />
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The capacity of the first phase being operated is 50 megawatts. The Egyptian Electricity Transmission Company has completed the construction of the 300-megawatt electrical connection line with Sudan. The extension of Toshky transmission plant, which is a double circuit transmission line stretching over 170 kilometers with a capacity of 220/66 kV, has been established and linked with Sudan’s Wadi Halfa in collaboration with Siemens. The first phase of the linkage was due to enter service in March but has been delayed.<br />
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Chairperson of the Egyptian Electricity Transmission Co. (EETC) Sabah Mashaly indicated in a press release in February that the cost of the project is LE32, 550, 000 and €562500. The statement explained that the network consists of air-insulated substations (AIS) to inhibit power loss. The amount of electricity to be transmitted is estimated to be 400 megawatts.<br />
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An official from the Ministry of Electricity pointed out that the Egyptian Electricity Transmission Co. finished the overhead power lines in a record time of less than six months, revealing that experts from both countries are exchanging visits to accelerate the final works in the project.<br />
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The following phases will enter service gradually in tandem with the rate of accomplishment on the Sudanese side, a source at the Ministry of Electricity and Renewable Energy told Egypt Today.</div>