Samra Power Generating Station in Jordan
A loan agreement and a guarantee agreement, for KD 16 million, were signed in Amman on 17th of May 2015 to help finance the Samra Power Generating Station Project (Phase VII).
The loan agreement was signed by Mr. Amjad Al-Rawashdeh, General Manager, on behalf of the Samra Electric Power Generating Company, while the guarantee agreement was signed by H.E. Dr. Omayah Toqan, Minister of Finance, on behalf of the Government of the Hashemite Kingdom of Jordan. H.E. Mr. Abdlatif Yousef Al-Hamad, Director General/Chairman of the Board of Directors of the Arab Fund, signed both agreements on behalf of the Fund.
The project represents the seventh phase of Samra Power Generating Station in the Al-Zarqa Governorate, and aims at satisfying the growing demand for power and energy in the Hashemite Kingdom of Jordan through the implementation of the station in order to increase its installed capacity from 1170 MW to 1240 MW. This will be accomplished by installing a 70 MW steam generating unit that will utilize the exhaust gases from the gas turbine that was supplied in Phase VI of the station so that the units provided in Phases VI and VII would operate as a combined cycle module.
The loan will carry interest at 3% per annum and will be repayable over 22 years with a 4 year grace period.
The Samra Electric Power Generating Company will be the beneficiary of the loan, and will be responsible for implementing the project, which is expected to be completed by the end of 2018.
With the signing of this loan, the Arab Fundís total contribution to financing projects in the Hashemite Kingdom of Jordan now amounts to KD 579.15 million.