Egypt's President Mohamed Mursi will convene on Thursday with Ministers of Foreign Affairs and Water Resources at the presidential palace to discuss the Ethiopian dam crisis, reported the state-owned news agency.

Ethiopia began on Tuesday the process of diverting the course of the Blue Nile River to continue the construction process of its Renaissance Dam, raising concerns over Egypt’s water supply.

The power-generating dam is predicted to reduce Egypt's and Sudan’s share of Nile River water by 18 billion cubic meters annually.

The Egyptian government has stated that Ethiopia's decision to start building the dam does not mean that Egypt approves its construction.

“We are still waiting for the report of tripartite technical committee (made up of experts from Egypt, Sudan and Ethiopia) on the effects of the dam on Egypt’s water supply,” the Water Resources Minister said.

The committee's report is expected to be released on Thursday.