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†Hashemite Kingdom of Jordan

Al-Samra Electric Power Generating Station
(Financing Phase IV and Additional Financing for Phase III)

Loan No.:

542

Interest Rate:

3.0%

Beneficiary:

Al-Samra Electric Power Generating Company (SEPGCO)

Grace Period:

4 years

Project Cost:

KD†53.5 million

Maturity:

22 years

Amount of Loan:

KD 30.0 million

Repayment:

37 semi-annual installments

Date of Loan Agreement:

16/12/2009

First Installment:

4 years following the first disbursement

Date of Effectiveness:

-


Objectives:

The project aims at satisfying the increasing demand for electric power and energy in Jordan, by raising the installed capacity of Al-Samra power generating station from 600 MW to 900 MW. This will be accomplished by the supply and installation of two gas turbines, operating as on simple cycle and using natural gas as their primary fuel.†

Description:

The project, which is expected to be completed by the fourth quarter of 2010, consists of the supply and installation of two gas turbines, each rated at 150 MW, two power transformers, the execution of necessary civil, mechanical and electrical works, and the provision of consultancy services required for the implementation of the project. The project consists of the following main components:

  1. Station Expansion Works: This includes the leveling of† land† in† the project site, along with allother required civil works, the supply and installation of two gas turbines, each rated at 150 MW and using natural gas as primary fuel, two 15/132 kV power transformers, each rated at 200 MVA, in addition to the supply of the necessary spare parts and the execution of all associated mechanical and electrical works.
  2. Consultancy Services: This includes the provision of consultancy services required to prepare design drawings, assist in the tendering process, perform project supervision, and participate in witness testing and preliminary acceptance of equipment included in the project.††

Financing:

The Arab Fund's loan covers about 41.0% of the cost of phase IV, and two thirds of the deficit that arose in financing phase III of the project. The Kuwait Fund for Arab Economic Development and other financial institutions are expected to contribute to the financing of this project with loans equivalent to about KD 34.0 million. SEPGCO will cover the remaining cost of both phases and any additional cost that may arise.


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