CBNNews.com - JERUSALEM, Israel - Saudi Arabia's Islamic Development Bank agreed to finance a project to connect the Gaza Strip to Egypt's electricity grid.

Omar Qattaneh, the Palestinian Authority's (PA) energy chief, said the $32-million project would supply some 250 megawatts to the Strip, which would provide most of its energy needs.

Qattaneh said the PA would issue bids for the project, which is expected to take some 12 to 18 months to complete, in the near future.

Neither Egyptian nor Israeli government officials commented on the PA's announcement.

But Hamas spokesman Taher Nunu welcomed the proposal, despite ongoing rivalry between the two Palestinian factions.

"We welcome any project that links us to our Arab brothers and ends our relations with the occupation [Israel]," he said, adding that Hamas officials had already discussed the concept with Egypt.

Source: The Associated Press