EuroAsia Interconnector Project Receives €236 Million in Capital
The EuroAsia Interconnector project, which will connect Southern Cyprus, Israel, and Greece through an underwater electricity cable, has received €236 million in capital, according to reports.
The news was based on a response by Cyprus Energy Minister Yorgos Papanastasiu to a letter from AKEL MP Irini Haralambidu regarding the EuroAsia Interconnector project.
Papanastasiu's response, as reported in the Politis newspaper, was based on official information from the implementation body of the electric interconnection project, EuroAsia Interconnector Ltd. He stated that the project's current private capital amounts to €236 million, with an additional €30 million reserved for the normal execution of the project.
In his response, Papanastasiu mentioned that the government is considering the next steps regarding the project's economic sustainability and its geostrategic value. The Energy Ministry has also been consulting with a foreign organization for an assessment of the project.
Furthermore, Papanastasiu mentioned that the Republic of Cyprus will evaluate the European Investment Bank's examination of the matter.
Finance Minister Makis Keravnos is also mentioned in the article, as he requested the presentation of an examination of the economic sustainability of the EuroAsia Interconnector project to the House of Representatives, following Irini Haralambidu's request. As a result, the Finance Ministry has asked the European Investment Bank, which conducted the examination, for the necessary authorization to present it to the House.
Source: TAK
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