Three bids were received for the EPC contract in late February from a German joint venture (JV) of Siemensand Koch, Canada’s SNC Lavalinand a Spanish/Polish JV of Iberdrolaand Alstom Poland. Germany’s MVV Energieis the technical consultant on the project.

The European Investment Bank (EIB) on 25 November granted a Eur 200 million ($236 million) loan towards the construction of the plant. PEEGT officials say additional financing will come from the Islamic Development Bank (IDB), which will contribute Eur 86 million ($102 million) and Kuwait-based Arab Fund for Economic & Social Development (AFESD), which will contribute Eur 80 million ($94.5 million). Damascus will provide the rest of the funding.

The Siemens/Koch JV is also working on the EPC contract to build the 750-MW combined- cycle power plant at Deir Ali (MEED 9:9:05).

PEEGT officials say they are also carrying out feasibility studies for an estimated $400 million project to build a new 750-MW combined-cycle power plant at Qattineh, near Homs, and adding 400 MW to the existing power plant at Banias, which has capacity of 680 MW. Sweden’s SwedPowerwas the consultant for Banias; the project was financed by the UNDP. Tenders are expected to be issued in 2006 for both plants (MEED 12:11:04).