08 Jul 2010
(MENAFN) Lebanese Energy Minister Gebran Bassil has unveiled a $5 billion plan to overhaul its decaying power sector and provide it with 24-hour electricity in four years, Reuters reported.
According to the minister, Lebanon’s electricity sector is saddled with old power plants, insufficient infrastructure and inefficient supply lines.The loss-making sector adds $1.5 billion to the budget deficit annually, and the cost to the wider economy from poor power supply is at least $2.5 billion.
Bassil said the plan calls for the production of 4,000 megawatts of electricity by 2014 at a total cost of $4.87 billion. The government will provide $1.5 billion, the private sector $2.32 billion and international donors will contribute $1 billion.
The state-owned Electricite du Liban can only meet two-thirds of peak demand of 1,650 megawatts, which means the average supply of electricity per day is 18 hours, said a report by Gulf Daily News.
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
This website uses cookies to ensure you get the best experience and by clicking “I Accept” below, you consent to the use of cookies. Learn more