Three bids were received for the EPC contract in late February from a German joint venture (JV) of Siemens
, Canada’s SNC Lavalin
and a Spanish/Polish JV of Iberdrola
and Alstom Poland
. Germany’s MVV Energie
is 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 SwedPower
was 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).