| Also Known As |
: |
Ras Laffan C IWPP |
| Country |
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Qatar |
| Project Value |
: |
USD 3,900,000,000 |
| Sector |
: |
Power and Water | IWPP - Independant Water & Power Provider, Power Generation
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Consultant |
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Kema International
(Technical) |
|
Contractor |
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Hyundai Engineering and Construction Company
(EPC) |
| Profile Type |
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Standalone Project
|
|
| Completed
|
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Completion: May 2011
|
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| Background |
Ras Girtas Power CompanyRas Girtas Power Company plans to build an independant water and power provider in Ras Laffan, Qatar.
The plant will be developed on a fast-track basis, with 1,600 MW and 63 million g/d of capacity due on stream in 2010.
The remaining power capacity will be brought online in April 2011.
Ras Laffan C will involve a new joint venture company , Ras Girtas Power CompanyRas Girtas Power Company, to implement the IWPP on a build-own-transfer (BOT) basis for an initial period of 25 years.
KEMA International is the technical advisor for the project. |
| Latest Events |
At the end of May 2011, the project was completed (previously expected in April 2011). |
| Previous Events |
At the end of October 2010, the desalination plant was completed.
In July 2010, the first phase of the IWPP was completed.
In January 2010, the project was under construction.
In August 2009, 70% of the project was completed.
In May 2009, 45% of the project was completed.
In April 2009, 40% of the project was completed.
In June 2008, a USD 233 million turnkey supply contract was awarded to ABBABB. ABBABB will supply electrical systems that include: substations, 800-MVA (mega volts ampere) transformers, generator bus-ducts and breakers, medium and low voltage switchgear, emergency power supply and cable systems.
In May 2008, the construction of the plant was subcontracted to Hyundai Engineering and ConstructionHyundai Engineering and Construction Company by the lead EPC contractor, MitsuiMitsui.
In March 2008, the consortium of Suez Energy InternationalSuez Energy International and MitsuiMitsui was awarded the BOT contract. MitsuiMitsui was selected as the EPC contractor.
In September 2007, the technical advisory contract was awarded to Kema.
On 29 July 2007, bidders submitted their proposals for the BOT contract.
In March 2007, the RFP for the BOT contract was issued. |
| Scope of Work |
Construction of a 2,730 MW power plant and a 63 MIGD water desalination facility with the related facilities.
The plant will include 8 gas turbine generators, 8 heat recovery steam generators, four steam turbine generators and 10 desalination units. |
| Financing Source |
Royal Bank is the financial advisor.
In August 2008, the project reached financial closure. The deal was divided between a loan of USD 1.5 billion by the commercial bank tranche (made up of twenty regional and international banks), a loan of USD 1.5 billion by the Japan Bank for International Cooperation (JBIC)Japan Bank for International Cooperation (JBIC), a USD 300 million facility guaranteed by Gruppo Sace, and a loan of USD 250 million by the Qatar Islamic BankQatar Islamic Bank and the Islamic Development BankIslamic Development Bank. All have a 25-year tenor.
The project will be financed by a 15% equity from Suez and MitsuiMitsui (in the form of lending, until the project is operational) and the remaining from project financing. |
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