AMMAN, 20th May, 2016 (WAM)–Jordan signed on Thursday a Memorandum of Understanding (MoU) with the GCC Interconnection Authority to join the Gulf countries’ power grid through Saudi Arabia.

Jordan’s Minister of Energy and Mineral Resources Ibrahim Saif said at the signing ceremony that the deal is very important for the Kingdom in light of the increase in electricity prices, which is a challenge to Jordan and its ability to attract investments.

He added that the interconnection between the Arab states is a key factor in reducing costs and increasing the efficiency of the grid, stressing that the connection to the GCC grid will bring several economic benefits to Jordan.

Demand for electricity in Jordan rises by about 6.5 per cent annually and the Kingdom imports about 97 per cent of its energy needs annually.