FINANCIAL NEWS

Lebanon’s Cabinet confirms electricity plan

26 Aug 2017

(MENAFN) Lebanon’s ministers confirmed a contentious electricity plan, referring an offer to the Tender Department in order to lease extra power barges.

Moreover, a book of terms, which emphasized the needs and conditions that would allow firms to offer for the deal to provide the power barges was confirmed and sent to the Department.

Additionally, the plan, introduced by Free Patriotic Movement affiliated Energy and Water Minister and endorsed by Hariri, entails renting more power barges.

Information Minister proclaimed that the new tender documents will lease the power-generating barges should involve a temporary insurance guarantee of USD50mn for the 400MW.

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MENAFN2608201700450000ID1095773830

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