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Euroasia Interconnector study expected mid-November

Energy Minister George Papanastasiou has told the Cyprus News Agency (CNA) that the study on the Euroasia Interconnector project is expected to be submitted mid-November instead of October.

As he explained, the bidding competition was re-announced and the award of contracts is set to take place next week.

He said there were procedural issues, which meant the tender for the study needed to be repeated anew as it wasn’t fully in line with the relevant regulations.

According to Papanastasiou, the study will look at four aspects: the project’s financial viability, how it compares with alternative solutions, its geostrategic value and the due diligence process.

Replying to a question, the minister confirmed the Republic of Cyprus was waiting for the completion of the study to decide whether to participate in the project.

The Euroasia Interconnector is an interconnector between the Greek, Cypriot, and Israeli power grids via the world's longest submarine power cable.

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