Day: April 24, 2024

Tunis: The Tunisian Electricity and Gas Company (STEG) will mobilise an investment of around pound 266 million to complete the Tunisian-Italian Elmed Interconnector Project, according to Belhassan Chiboub, director general of electricity and renewable energy at the Ministry of Industry, Mines and Energy.

This investment, which concerns the Tunisian part, includes the laying of a 100 km submarine power cable at a cost of 125 million euros and the construction of a power station in the Mlaabi region in Menzel Temime (Nabeul governorate), at a cost of pound 141 million.

Speaking at a study day organised by the Assembly of People’s Representatives (ARP) on Wednesday to present the project, Chiboub added that STEG will mobilise additional investments worth $120 million to reinforce the national electricity network, which will be linked to the ElMED project.

Specifically, this will involve reinforcing the central transmission line between the north and the south, with a view to exporting electricity generated fr
om renewable sources in the south and transmitting it to the north-east of Tunisia.

To this end, high-voltage overhead lines will be constructed from Skhira to Kondar (197 km) and from Bouficha to Sousse (6.5 km), as well as conventional stations and electrical substations in these regions.

Chiboub said the total cost of the ElMED project is estimated at almost pound 840 million, of which pound 307 million will be provided by the European Union (EU) in the form of grants and almost pound 533 million will be shared equally by STEG and the Italian electricity grid company Terna.

he project consists of a direct current (DC) submarine power cable interconnection between the Partanna station in Sicily and the Mlaabi station, with a total length of about 220 kilometres (including about 200 km of submarine cable) and a capacity of 600 megawatts (MW).

The cable will be owned by STEG and Terna, the companies that manage the two countries’ electricity grids.

Preliminary studies for the project have been carried ou
t during 2021-2023, financed partly by a World Bank (WB) grant/loan and partly by self-financing.

Two financing agreements have been signed with the WB (for the Menzel Temime station) and with the Green Climate Fund (GCF).

The project will also be financed by loans from European lenders, namely the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the German Bank for Reconstruction and Development (KFW).

Mohamed Naceur Braham, Director General for Economic Sectors at the Ministry of Economy and Planning, stressed that the ELMED project is of strategic importance for Tunisia and STEG.

This project will contribute to Tunisia’s energy security by diversifying its sources of electricity supply, especially as the electricity generated from renewable sources will be exported to Italy, he added.

He said the project is capable of reinforcing the energy transition and Tunisia’s energy independence (the average is estimated at 42% at the end of February 2023).

He adde
d that the interconnection will strengthen the diversification of electricity generation sources based on renewable energy and help reduce greenhouse gas emissions by up to 13.4 million tonnes of CO2.

Source: Agence Tunis Afrique Presse

Tunis: President Kais Saied stressed the need for economic decisions to be purely national, based on new visions that break with what prevailed in the past and ‘to which, unfortunately, some are still working to return.’

This came during a meeting with the Minister of the Economy and Planning, Feryel Ouerghi Sebai, at the Carthage Palace on Wednesday.

The President of the Republic stressed that the rentier economy never creates wealth and cannot be a pillar of the economy and growth. Moreover, those who benefit from it are a few families and growth rates are calculated not on the basis of national wealth but on the wealth they have accumulated.

“What is more, the self-appointed rating and ranking bodies used to place Tunisia in advanced ranks and give it marks of approval because these families were associated with foreign circles,” he was quoted as saying in a presidency statement.

The President added that if these figures were objective and scientific, the situation in a number of public enterprises wou
ld not be as it is today.

The President of the Republic also stressed the need to speed up the drawing up of fair development plans in which the social role of the State cannot be neglected. “There can be no real growth without social justice and no economic and social growth without the State assuming its social role in health, education, transport and other facilities,” he stressed.

Source: Agence Tunis Afrique Presse

Tunis: President Kais Saied stressed the need for economic decisions to be purely national, based on new visions that break with what prevailed in the past and ‘to which, unfortunately, some are still working to return.’

This came during a meeting with the Minister of the Economy and Planning, Feryel Ouerghi Sebai, at the Carthage Palace on Wednesday.

The President of the Republic stressed that the rentier economy never creates wealth and cannot be a pillar of the economy and growth. Moreover, those who benefit from it are a few families and growth rates are calculated not on the basis of national wealth but on the wealth they have accumulated.

“What is more, the self-appointed rating and ranking bodies used to place Tunisia in advanced ranks and give it marks of approval because these families were associated with foreign circles,” he was quoted as saying in a presidency statement.

The President added that if these figures were objective and scientific, the situation in a number of public enterprises wou
ld not be as it is today.

The President of the Republic also stressed the need to speed up the drawing up of fair development plans in which the social role of the State cannot be neglected. “There can be no real growth without social justice and no economic and social growth without the State assuming its social role in health, education, transport and other facilities,” he stressed.

Source: Agence Tunis Afrique Presse