01 July 2012
Amman - Jordanian Al-Samra Power Generation Company on Sunday signed a loan agreement with the Kuwait Fund for Arab Economic Development (KFAED) in the amount of JD37.5 million to assist in financing the Third Expansion Project of Al-Samra Power Generation Station to add a steam unit.
A related Guarantee agreement was signed between Jordan and Kuwait.
The Guarantee Agreement was signed by minister of Finance Suleiman Al-Hafez, while the loan agreement was signed by Director-General of Al-Samra Power Generation Company Amjad Rawashdeh. Both agreements were signed by KFAED Director-General Abdulwahab Ahmed.
The project aims to assist in meeting the rapid increase in demand for electric energy in Jordan through making the necessary electric power available to the economic activity in the country.
The project includes the procurement and installation of a steam unit within about 140 MW capacity working on heat recovery from the two simple cycle gas turbines of the first step of the third expansion of Al-Samra Power Generation Station.
Al-Hafez said that the loan maturity is 24 years, including a grace period of four years. it would be repaid over 40 semi-annual installments, with interest at the annual rate of 3%.
By signing this loan agreement it would be the 26th loan provided by the Kuwait Fund to Jordan, as it previously provided 25 loans in the total amount of about KD155 million to assist in financing projects in various sectors.
Amman - Jordanian Al-Samra Power Generation Company on Sunday signed a loan agreement with the Kuwait Fund for Arab Economic Development (KFAED) in the amount of JD37.5 million to assist in financing the Third Expansion Project of Al-Samra Power Generation Station to add a steam unit.
A related Guarantee agreement was signed between Jordan and Kuwait.
The Guarantee Agreement was signed by minister of Finance Suleiman Al-Hafez, while the loan agreement was signed by Director-General of Al-Samra Power Generation Company Amjad Rawashdeh. Both agreements were signed by KFAED Director-General Abdulwahab Ahmed.
The project aims to assist in meeting the rapid increase in demand for electric energy in Jordan through making the necessary electric power available to the economic activity in the country.
The project includes the procurement and installation of a steam unit within about 140 MW capacity working on heat recovery from the two simple cycle gas turbines of the first step of the third expansion of Al-Samra Power Generation Station.
Al-Hafez said that the loan maturity is 24 years, including a grace period of four years. it would be repaid over 40 semi-annual installments, with interest at the annual rate of 3%.
By signing this loan agreement it would be the 26th loan provided by the Kuwait Fund to Jordan, as it previously provided 25 loans in the total amount of about KD155 million to assist in financing projects in various sectors.
© Jordan News Agency - Petra 2012
