|
18 April 2006 - Japan's Mitsui & Co and AES Corporation are to jointly build a $280m gas fired power plant in Jordan. The two companies have won the rights to negotiate with the Jordanian government over the terms for the 400 MW plant that will run on natural gas supplied via pipeline from a gas field in Egypt.
The plant is expected to be completed in June 2008 and will supply power to Jordan's state-run power company under a 25 year PPA.
AES will have a 60 per cent stake in the project, with Mitsui holding the remaining 40 per cent stake. Loans from the US and Japanese state-backed financial institutions, as well as Japan's Sumitomo Mitsui Banking, will finance 75 per cent of the project, the spokesman said. The World Bank will back Sumitomo Mitsui's loan, he said.
Mitsui has been trying to expand its involvement in the power plant business, which the firm sees as a strategically important area.
AES operates the power generation and distribution business in more than 25 countries. In the Middle East, it runs power plants in Oman, Pakistan and Qatar.
| 
Articles 
| View all PennWell sites | View all PennWell events
Add RSS Feed
