RIYADH, Oct. 8 (Xinhua) -- Saudi Arabia and the United Arab Emirates (UAE) on Thursday signed a memorandum of understanding (MoU) to strengthen strategic cooperation in power grid interconnection, electricity exchange and sale, and rail connectivity, the Saudi energy ministry announced.
The MoU was signed in Riyadh by Saudi Minister of Energy, Industry and Mineral Resources Prince Abdulaziz bin Salman bin Abdulaziz and UAE Minister of Investment Mohamed Hassan Alsuwaidi, the ministry said in a statement.
Under the agreement, the two countries will work on general principles governing power grid interconnection and electricity exchange and sale, while conducting related technical, economic and environmental studies, the statement said.
The MoU also covers general principles for rail connectivity between the two countries to facilitate two-way transport and transit of goods and freight, helping strengthen logistics integration, improve supply chain efficiency, and support economic development and regional integration, it noted. ■
