The Kuwait Fund for Arab Economic Development has signed its second loan agreement worth KD35 million ($112 million) with the Gulf Cooperation Council Interconnection Authority to fund a project in the Al Wafra area of Kuwait.

The project involves the construction of a new interconnection station on an area of 62,000 sqm within the 500MW Gulf Electrical Interconnection System, said the Kuwait Fund in a statement.

The agreement was signed by Abdullah Ali Al-Yahya, the Minister of Foreign Affairs and Chairman of the Board of Directors of the Kuwait Fund, and Engineer Ahmed bin Ali Al Ibrahim, the CEO of the Gulf Cooperation Council Interconnection Authority, in the presence of the Secretary-General of the Gulf Cooperation Council, Jasem Mohamed Al-Budaiwi,, and a number of high-profile attendees.

Additionally, it includes the supply and installation of circuit breakers, reactors, and measurement and control systems for the establishment and expansion of conversion stations in Al-Wafra, Al-Fadhili, and Al-Faw, and the addition of electrical installations to enhance the network connected to Al-Wafra station in Kuwait, said the statement.

This will enable it to accommodate an electrical capacity of about 3,000MW, and to enhance the network in southern Iraq connected to Al-Faw station to enable it to accommodate an electrical capacity of no less than 500 megawatts.-TradeArabia News Service