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Jordan,Kuwait : Al-Samra Power Generation Co. inks JD37.5 million loan deal with KFAED
Publish Date : 03-Jul-2012
Al-Samra Power Generation Company has inked JD37.5 million loan deal with Kuwait Fund for Arab Economic Development (KFAED), to help in the financing of Third Expansion Project of Al-Samra Power Generation Station to add a steam unit.
Minister of Finance Suleiman Al-Hafez inked the Guarantee Agreement, whereas Director-General of Al-Samra Power Generation Company Amjad Rawashdeh inked the loan deal. Both deals were inked by KFAED Director-General Abdulwahab Ahmed.
The main aim of this project is to fulfill the fast increase in demand for electric energy in Jordan by offering the required electric power available to economic activity in the country. The project covers the purchase and deployment of a steam unit of nearly 140MW 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.
According to Al-Hafez, the loan maturity is 24 years, including a grace period of four years. The loan will be repaid over 40 semi-annual installments, with interest at the annual rate of 3%.
