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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    $191m Japanese Financing for Power Plant

    jedi17
    jedi17
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    • Post n°1

    $191m Japanese Financing for Power Plant Empty $191m Japanese Financing for Power Plant

    Post by jedi17 Wed 09 Aug 2017, 7:32 pm

    $191m Japanese Financing for Power Plant
    August 7, 2017 in Construction & Engineering In Iraq, Iraq Banking & Finance News, Iraq Public Works News
    On August 5, the Japan International Cooperation Agency (JICA) under the Government of Japan signed a loan agreement with the Government of the Republic of Iraq in Baghdad to provide a Japanese ODA loan of up to 21.556 billion yen (equivalent to approximately USD 191 million[1]) for the Hartha Thermal Power Station Rehabilitation Project (Phase 2).



    At the signing ceremony at the government palace in Baghdad, the loan agreement was signed between Dr. Maher Hammad Johan, Acting Deputy Minister of Finance and Mr. Yuho Hayakawa, Chief Representative of JICA Iraq office in the presence of H.E. Dr. Haider Al-Abadi, Prime Minster of Iraq, Mr. Kentaro Sonoura, Special Advisor to the Prime Minister of Japan, and H.E. Mr. Fumio Iwai, Japanese Ambassador to Iraq.

    This concessional ODA loan, with the interest rate of JPY LIBOR +0.05% (variable) for the main portion and fixed 0.01% for the consulting services and with the repayment period of 15 years (including 5 year grace period), is provided based on the Exchange of Notes between Iraqi and Japanese Governments just signed on the same day.

    The Hartha Thermal Power Station, with four units of 200 megawatts (MW) each, was originally built to generate 800 MW in total. The power station was constructed as one of the largest power plants in Basrah Governorate by the Japanese companies with Japan’s financial assistance in 1982.

    However, due to aging as well as serious damages during the wartimes in the past, operations of the two units, out of the total four units in the station, have been fully suspended for years. The remaining two units, that is, Unit No. 1 and No. 4, have continued their operations by great maintenance efforts of the staff of Ministry of Electricity in spite of huge deterioration of their generation capacities and frequent disruptions of power production.

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    jedi17
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    • Post n°2

    $191m Japanese Financing for Power Plant Empty Re: $191m Japanese Financing for Power Plant

    Post by jedi17 Wed 09 Aug 2017, 7:32 pm

    The objective of the Project is to rehabilitate Unit No. 1 (rated output: 200 MW) at the Hartha Thermal Power Station for restoring and stabilizing its power generation capability. The Project will increase the annual power generation of the Unit by 72.5% from 863 GWh to 1,489 GWh, which is equivalent to total electricity consumption which 800 thousand Iraqi people use a year.

    The rehabilitation works, to be completed in 2019, will also improve its power generation efficiency by 30% and will reduce the Unit’s operation outage time to less than one-twentieth of the one in 2015. The electricity generated by the Unit will be supplied to the national power grid and consequently contribute to stability of the power supply not only for the governorates in the South but also for all over the Republic including areas affected by the conflicts.

    In 2015, prior to the new loan mentioned above, JICA already provided its ODA loan for the rehabilitation of another unit (Unit No.4) of the Hartha Thermal Power Station as the preceding Phase 1 project.

    The Unit No.4 is now in commissioning process towards the re-start of the operation, after necessary rehabilitation works are completed by the contractor (Joint Venture of Mitsubishi-Hitachi Power Systems and GAMA). The Unit No.4 is planned to start its electricity supply to the grid in several weeks, which is well ahead of the original construction schedule, thanks to outstanding endeavors jointly made by the contractor and the Ministry.

    Assistance to the electricity sector is one of the pillars of JICA’s cooperation to Iraq. Since 2008, JICA has signed seven loan agreements for electricity projects in Iraq, including the one signed today, amounting to 196.648 billion yen (equivalent to approximately USD 1.8 billion) in total.

    These loans are used for rehabilitation and development of four power plants, transmission and distribution facilities all over the country. In addition to the financial cooperation, more than two thousand Iraqi officials have participated in the JICA’s training programs for capacity building of the electricity sector since 2003.

    [1] Converted from JPY to USD with the exchange rate of USD 1 = JPY 112.34

    (Source: JICA)
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