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FINANCIAL NEWS
Jordan starts in oil shale power plant worth USD2.1b
18 Mar 2017
(MENAFN) According to a Jordanian affiliate of Estonian-owned Enefit, called Attarat Power Co, it said that its plan to build a $2.1 billion oil shale-fired power plant in Jordan had secured financing from a consortium of Chinese banks.
The company official said that the financial-closure agreement will allow the company to start construction of the 470-megawatt plant, which is scheduled to begin generating electricity for local consumption in mid-2020.
Moreover, the move comes after the power utility last year signed initial agreements with Bank of China and the Industrial and Commercial Bank of China for $1.6 billion in debt financing.
Earlier, the project was initially agreed in 2014, but it had faced delays and discord over the price proposed to sell electricity from the plant and connect it to the national grid.
MENAFN1803201700450000ID1095322114
MENAFN1803201700450000ID1095322114
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