Arab Fund, Sudan sign $200 million loan to finance new power plant
April 18, 2017 (KHARTOUM) – Sudan and the Arab Fund for Economic and Social Development signed a $ 200 million loan agreement to build a 350-megawatt power station in the suburb of Al-Baquir, south of Khartoum.
According to a statement by the Arab Fund on Tuesday, the loan signing ceremony took place in the Moroccan capital of Rabat on the sidelines of the annual meetings of the Arab financial institutions.
The crude oil-fired power plant will generate 350 MW of electricity with a transformer station that uses a simple-cycle mode. However, the plant will operate with the natural gas after the construction of a pipeline transporting the imported gas through one of the ports of the country.
The loan repayment period is 30 years, with a grace period of seven years and an annual interest of 2%.
The new power plant is expected to contribute to solving the problem of power transmission bottlenecks in Al-Baqair and Soba industrial zones. The region is one of the high load density areas of the national electricity transmission network.
Sudan plans to add 4055 megawatts of electricity by 2020, through a plan to raise hydroelectric power generation from 1500 MWh per year to 2000 MWh per year, and thermal power production from 900 MW to 3,555 MW.
(ST)