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Arab Fund, Jordan sign agreement worth of  KD16m

Arab Fund, Jordan sign agreement worth of KD16m

AMMAN: The Kuwait-based Arab Fund for Economic and Social Development, AFESD, and Samra Electric Power Company in Jordan, SEPCO, and last night signed an agreement to finance the seventh phase of SEPCO’s power expansion project.

According to Kuwait News Agency, KUNA, the agreement was signed by the Jordanian Minister of Finance, Umayya Toukan, and AFESD’s Chairman, Abdullateef Al-Hamad.  As per the agreement, the AFESD will provide SEPCO with KD16 million to finance the completion of Samra Electric Generating Plant, designed to meet the growing demand for electric power and energy in the Kingdom.

The new phase will raise the plant’s capacity from 1,170 MW to approximately 1,240 MW, by adding a 70 MW steam-generating unit that operates on heat from the gas-generation unit. He added that the fund has contributed to financing economic and social projects worth some KD579 million.