The Hashemite Kingdom of Jordan
| Loan No: | 515 | Interest Rate: | 4.5 % |
| Beneficiary: | Al-Samra Electric Power Generating Company | Grace Period: | 5 years |
| Project Cost: | KD 34.9 million | Maturity: | 22 years |
| Amount of Loan: | KD 20.0 million | Repayment: | 35 semi-annual installments |
| Date of Board Approval: | - | First Installment: | 5 years following the first disbursement |
| Date of Loan Agreement: | 2007-05-06 | Date of Loan Effectiveness: | 2007-05-06 |
Objectives:
The project aims at satisfying the increasing demand for electric power and energy in the Kingdom, through the expansion of the Al-Samra Power Generating Station, located in the Al-Zarqaa Governorate, around 35 km to the East of the capital city of Amman. The project will lead to an increase in the installed capacity of the station, originally financed by Arab Fund Loan No. (462/2004), from around 300 MW to around 500 MW.
Description:
The project, which is expected to be completed by the end of the first half of 2008, consists of the following main components:
- Station Expansion Works: This includes leveling of land in the project site, execution of all other required civil works, the supply and installation of two gas turbines, each rated at around 100 MW and using natural gas as primary fuel, two generators, and two 15/400 kV power transformers, each rated at about 150 MVA. This component also includes the supply of necessary spare parts and the execution of all necessary mechanical and electrical works.
- Consultancy Services: This includes providing all consultancy services required to prepare design drawings, assist in the tendering process, perform project supervision, participate in witness testing and preliminary acceptance of equipment included in the project.
Financing:
The Arab Fund’s loan covers around 57.3% of the total project cost. The Al-Samra Generating Company will cover the remaining project cost and any additional future cost.