Riyadh, Jan 26 (IANS): Saudi Arabia and Iraq has signed a memorandum of understanding (MoU) to link the power grids of the two countries.
The deal was inked by Saudi Energy Minister Prince Abdulaziz bin Saud Al Saud and Iraqi Minister of Electricity Adel Karim, on Tuesday, Xinhua news agency reported citing the official Saudi Press.
It aims to share the electricity-generating reserves and exchange electricity between the two countries for emergency use in case of a power cut, it said.
The deal will also accelerate the export and import of electricity between the two sides or with other Arab countries.
The MoU is the latest of many cooperation initiatives between the two countries that reflect the major progress made in the bilateral ties in recent years.