Jordan to complete power project financing

08 October 2009

National Electric Power Company plans $500m loans for Al-Qatrana plant

Jordan’s Al-Qatrana power project is due to complete raising $500m of debt for the development of the plant in mid-October.

The project, sponsored by Korea Electric Power Corporation (Kepco) and Saudi Arabia’s Xenel Industries, will be financed by Germany’s KfW, France’s Proparco, and Saudi Arabia’s Islamic Development Bank.

Korea Export Insurance Corporation will provide direct loans and guarantees on the commercial bank loans.

The project involves building a 380MW gas-fired power plant on a 25-year build-own-operate (BOO) basis.

France’s BNP Paribas is the financial adviser on the project.

Jordan’s National Electric Power Company (Nepco) has issued a request for proposals for a consultancy contract on an independent power project (IPP) to be constructed at Zarqa, near the Jordan Petroleum Refinery (MEED 10:9:09).

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