Saudi Arabia, India soon to lay 1,600 km long submarine cable
The Kingdom of Saudi Arabia (KSA) and India may soon be connected by submarine cables, creating a renewable energy grid as both countries explore a cross-country project being undertaken to extend a new era of energy diplomacy, local media reported.
The submarine cable project will be connected from the coast of Gujarat to Saudi Arabia and the distance from Mundra Port in Gujarat to the coastal city of Fujairah in Saudi Arabia is 1,600 km.
According to a report by Economic Times, petroleum and natural gas officials conducted a feasibility study of this project three years ago, but now the matter is going forward.
In order to lay the foundation for the visit of Saudi Prime Minister and Crown Prince Mohammed bin Salman to India next month, Prince Abdulaziz bin Salman, the Saudi Arabian Energy Minister will be in New Delhi for a day on Friday, October 21.
As per media reports, the cost of the project could be between USD 15 and USD 18 billion. However, this figure is not final. In the coming days, United Arab Emirates (UAE) may also join this project.
Saudi Arabia’s ambassador to India has sought suggestions from several big business groups including Tata Group, Reliance Industries, JSW and Adani Group in this regard.
It is reported that the CEO of a power transmission company said that there is a plan to provide two-way power in blocks of 15 minutes. This will solve the problem of fluctuations in solar and wind energy.
Economic Times quoted industry experts as saying that the 3 GW submarine project will cost $5 billion.
India and Saudi Arabia want to strengthen their relations beyond crude oil. India needs cheap oil and cheaper electricity in the future. India imports 85 per cent of its oil requirement.
Saudi Arabia has a significant stake in this. Saudi Arabia, on the other hand, needs aluminium, steel and construction materials. In this way, both countries need each other.