Jordan to sign $2.4bn power plant deal
AMMAN, September 5, 2014
Jordan’s National Electric Power Company (Nepco) has given approval to an Estonian-Malaysian consortium to sign deals for building the country's first $2.4 billion oil shale-fuelled power plant, said a report.
The Cabinet approved the four agreements to be signed with the consortium, and the signing is expected to take place soon, Energy Minister Mohammed Hamed was quoted as saying, in the Jordan Times report.
"This is a strategic project for Jordan and we are going ahead with it," he said.
Agreements with the ministry, Nepco, the Department of Lands and Survey, and the Energy and Mineral Resources Regulatory Commission are ready to be signed, he noted.
The plant's 470-megawatt (MW) capacity will cover for some 15 per cent of Jordan's current overall electricity capacity of 3,200MW, said the report.
The plant, which is expected to be operational in February 2018, will be established on a build, own and operate basis, it added.