Work on the gas-fired thermal plant involves an engineering, procurement and construction (EPC) phase and a 12-year operation and maintenance phase. Design and construction work is already under way, with the EPC phase expected to be completed in 2008. SNC will operate the plant and the electricity will be sold to Sonelgaz under a 20-year contract. The plant will increase the country’s installed capacity by an estimated 20 per cent.

The project will be financed on a 70:30 debt/equity basis, with the project company responsible for $248 million in equity and local banks providing a non-recourse debt package.