Global Arab Network | Yemen to Build Gas Power Plant by Arab Fund for Economic and Social Development's Support

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Yemen to Build Gas Power Plant by Arab Fund for Economic and Social Development's Support

Tuesday, 15 February 2011 18:27

Yemen_to_build_Gas_Power_Plant_by_Arab_Fund_for_Economic_and_Social_Development_support

Yemen (SANA'A) - The cabinet approved on Tuesday a loan agreement to finance the 2nd phase of the Marib Gas Power Plant Project as well as enlarging the transmission network.

The agreement (of an extra loan) was signed on February 5, 2011 between Yemen and the Arab Fund for Economic and Social Development (AFESD), under which the Fund offers $150 million as a loan to contribute to the project.

In its weekly meeting chaired by Prime Minister Ali Mujawar, the cabinet directed to submit the agreement to the parliament to finalize the constitutional procedures required to the final approval.

The project costs totally $392 million funded by the government, AFESD and Saudi Fund for Development.

The project comes within the executive measures to enhance the generation capacity of the electrical system and eliminate the deficit of the generating capacity in power plants.

On the other hand, the cabinet ordered to submit a loan agreement to contribute to finance a transmission lines project and power transfer stations for Habilain, Yafa'e and Baidha'a to the parliament for discussion and completing the constitutional procedures.

The agreement was signed between Yemen and Kuwait Fund for Arab Economic Development (KFAED) on February 14, 2010.

Based on the agreement, the KFAED grants $31 million as a contribution to the project, in which the government's share reaches $16 million.
(SABA)

Global Arab Network

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