Nicosia: The Cyprus-Greece electricity interconnection project, known as the Great Sea Interconnector (GSI), is on the brink of launching for the first time since discussions began in 2012, President Nikos Christodoulides announced. He highlighted the significant role a French investment company has played in advancing the project.

According to Cyprus News Agency, President Christodoulides spoke during his visit to the Enosis Neon 'Trast' association in Nicosia, addressing concerns from the right-wing Democratic Rally (DISY) and left-wing AKEL parties about the project's financial implications. He emphasized that, for the first time since 2012, substantial progress has been made toward the project's implementation, marking a pivotal moment.

The President noted that the French investment is crucial for both the economic and geopolitical dimensions of the GSI. The developments are based on a mutual understanding and agreement with the Greek Prime Minister, Kyriakos Mitsotakis. The project was a key topic during the Cyprus-Greece-Egypt Trilateral Summit in Cairo, and discussions continued with the French Embassy in Nicosia.

Meanwhile, Greek Prime Minister Mitsotakis was in France to meet with French President Emmanuel Macron to further deliberate on the project. The President mentioned an understanding reached in mid-August with both the French President and the Greek Prime Minister, which has significantly advanced the project's promotion.

President Christodoulides expressed optimism, stating, "Following the understanding reached around August 15 with the French President and the Greek Prime Minister, for the first time since 2012, when this idea was launched, we are very close to the stage of starting, so that results can be achieved."