The President and CEO of IPTO, Mr. Manos Manousakis, referred to the steps of cooperation leading to the rapid maturation of the new electricity interconnection between Greece and Saudi Arabia, Saudi Greek Interconnection, during his speech at the 13th Arab-Hellenic Economic Forum.

 

According to Mr. Manousakis, feasibility studies for the large-scale energy project that will connect Europe to the Arabian Peninsula for the first time have already been commissioned and are expected to be completed within 2025.

 

"Our goal is to include the new interconnection in the Projects of Mutual Interest (PCI) for the European Union. This is a project that will give Europe and Saudi Arabia the opportunity to harness large amounts of 'green' energy produced in different geographical and climatic zones," he said.

 

Manousakis also referred to the GREGY Greece-Egypt electrical interconnection, with the Copelouzos Group as the implementing entity, a project in which IPTO is already assisting from a technical point of view, while it is also considering its participation at the investment level.

 

"This is a project that IPTO supports, not only because of its obvious geopolitical importance for Greece but also because of its commercial prospects," he said. The President and CEO of IPTO stressed that the electrical interconnections create opportunities for cooperation in the field of telecommunications as well.

 

In this context, he referred to the strategic agreements in which IPTO's subsidiary, Grid Telecom has entered into. The first is the cooperation with Dawiyat Integrated for the creation of a new "corridor" for ultra-high-speed data transmission in the Eastern Mediterranean, and the second is with Telecom Egypt for the fiber optic cable system sector, 2Africa. This is a project that will connect to Crete, putting the island for the first time on the "map" of the world's largest telecommunications cables.