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Jordan is considering building a shale-fired power plant at a cost of around $1.25 billion in partnership with the foreign private sector, a local newspaper reported on Tuesday.
Contacts are currently underway between the government and foreign investors to establish the project which will have a generation capacity of 480 megawatts (MW), the Arabic language daily Al-Ghad said, citing industry sources.
“If this project proceeds, the plant could be built at a lower cost, potentially around $1.25 billion, compared to the $2.2 billion cost of other power projects. This lower cost is attributed to the existing infrastructure, which allows for more cost-effective electricity production,” the paper said.
It added that international investors have expressed their willingness to contribute 50 percent to the new project while the remaining share would be a local contribution, with the government holding a major stake.
The plant could be completed within two years of commencement due to the existing infrastructure, the report noted.
(Writing by N Saeed; Editing by Anoop Menon)
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