Development of Electricity Transmission and Distribution Networks in the Islamic Republic of Mauritania
A loan agreement for KD 33 million was singed in Kuwait on the 21st of December 2015, to help finance the Development of Electricity Transmission and Distribution Networks in the Islamic Republic of Mauritania.
The loan was signed by H.E. Sayed Ahmed Ould Al-Rayes, Minister of Economic Affairs and Development, on behalf of the Government of the Islamic Republic of Mauritania, while H.E. Mr. Abdlatif Yousef Al-Hamad, Director General/ Chairman of the Board of Directors of the Arab Fund, signed on behalf of the Fund.
The project aims at providing a number of the interior towns in Mauritania with reliable and low cost electric energy. This will be accomplished by interconnecting several towns located in the southern region with the Manantali electric power grid, interconnecting several towns located in the eastern region with two new hybrid power plants currently under construction in the region, along with the electrical interconnection between the cities of Nouakchott and Nouadhibou on 225 kV.
The project includes the following key elements:
1- Transmission Network in the Southern Region.
2- Transmission and Distribution Networks in the Eastern Region.
3- Electrical Interconnection between Nouakchott and Nouadhibou.
4- Consultancy Services.
The loan will carry interest at 2.5% per annum and will be repayable over 25 years with a 7 year grace period.
SOMELEC 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 Islamic Republic of Mauritania now amounts to KD 492.70 million.