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Kuwait supports the Gulf electricity connection with Iraq with 115 million dollars
Shafaq News/ The Kuwait Fund for Arab Economic Development signed today, Thursday, a loan agreement with the Electricity Interconnection Authority of the Arab Gulf Cooperation Council.
Accordingly, the Fund provides a loan of 35 million Kuwaiti dinars (equivalent to about 115.5 million dollars), to contribute to the financing of the project to strengthen the Gulf electrical interconnection system and connect to the southern Iraq network.
The loan agreement was signed on behalf of the GCC Electricity Interconnection Authority, CEO of the Authority, Ahmed bin Ali Al-Ibrahim, and on behalf of the Kuwait Fund for Arab Economic Development, Director-General Marwan Abdullah Thunayan Al-Ghanim, in the presence of the Secretary-General of the Cooperation Council for the Arab States of the Gulf, Nayef Al-Hajraf.
The Director General of the Kuwait Fund for Arab Economic Development, Marwan Al-Ghanim, said that the project will have great technical and economic benefits, as the project will increase the capacity and efficiency of the electrical networks of the member states of the authority, and the State of Kuwait will be one of the largest beneficiaries of it, as the capacity supporting the electricity network in Kuwait will be increased by about 2500 megawatts, and this will increase the reliability of the Kuwaiti electrical network and raise its operational efficiency.
Al-Ghanim added that the project will have benefits for the network in southern Iraq, where it will be provided with a reliable electric capacity of no less than 500 megawatts.
For his part, the CEO of the Electricity Interconnection Authority of the Cooperation Council for the Arab States of the Gulf, Ahmed Al-Ibrahim, said that the project aims to meet part of the demand for electric power and improve the performance and stability of the network in the Republic of Iraq.
Al-Ibrahim added that the project will also help the member states of the authority to strengthen their national electrical networks and increase their reliability to ensure the sustainability of electrical energy at all times.
He pointed out that the project will contribute to achieving a number of sustainable development goals, including, the third goal (good health and well-being), the fourth goal (quality education), the seventh goal (providing clean and affordable energy), the eighth goal (providing decent work and economic growth), the eighth goal The ninth (industry, innovation and infrastructure), the eleventh goal (providing sustainable cities and local communities), the seventeenth goal (contracting partnerships to achieve the sustainable development goals).
The project consists of the construction of a new interconnection station within the Gulf interconnection system in the Wafra area in the State of Kuwait on an area of about 62,000 square meters and the extension of 400 kV dual-circuit overhead transmission lines with a length of about 255 km to connect the new station with the Al-Fadhili substation in the Kingdom of Saudi Arabia Saudi Arabia and the extension of 400-kilovolt dual-circuit overhead transmission lines from Al-Wafra station to Al-Faw station in the south of the Republic of Iraq, affiliated with the Iraqi Ministry of Electricity, with a length of about 295 kilometers.
The project also includes the supply and installation of circuit breakers, electrical reactors, and measurement and control systems for the construction and expansion of substations in Wafra, Fadhili and Faw.
The project also includes adding new electrical facilities to enhance the network connected to the Wafra station in Kuwait to enable it to accommodate an electrical capacity of about 2500 megawatts, as well as strengthening the network in southern Iraq linked to the Faw station to enable it to accommodate an electrical capacity of no less than 500 megawatts. The project includes advisory services for the preparation of environmental and social studies and supervision of implementation.
The Kuwait Fund loan represents the first loan provided by the Fund to the Electricity Interconnection Authority of the Cooperation Council for the Arab States of the Gulf to finance the project to strengthen the Gulf electrical interconnection system and connect to the southern Iraq network. The Fund also intends to provide a second loan to finance the project according to the terms that will be agreed upon later in the second loan agreement
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Accordingly, the Fund provides a loan of 35 million Kuwaiti dinars (equivalent to about 115.5 million dollars), to contribute to the financing of the project to strengthen the Gulf electrical interconnection system and connect to the southern Iraq network.
The loan agreement was signed on behalf of the GCC Electricity Interconnection Authority, CEO of the Authority, Ahmed bin Ali Al-Ibrahim, and on behalf of the Kuwait Fund for Arab Economic Development, Director-General Marwan Abdullah Thunayan Al-Ghanim, in the presence of the Secretary-General of the Cooperation Council for the Arab States of the Gulf, Nayef Al-Hajraf.
The Director General of the Kuwait Fund for Arab Economic Development, Marwan Al-Ghanim, said that the project will have great technical and economic benefits, as the project will increase the capacity and efficiency of the electrical networks of the member states of the authority, and the State of Kuwait will be one of the largest beneficiaries of it, as the capacity supporting the electricity network in Kuwait will be increased by about 2500 megawatts, and this will increase the reliability of the Kuwaiti electrical network and raise its operational efficiency.
Al-Ghanim added that the project will have benefits for the network in southern Iraq, where it will be provided with a reliable electric capacity of no less than 500 megawatts.
For his part, the CEO of the Electricity Interconnection Authority of the Cooperation Council for the Arab States of the Gulf, Ahmed Al-Ibrahim, said that the project aims to meet part of the demand for electric power and improve the performance and stability of the network in the Republic of Iraq.
Al-Ibrahim added that the project will also help the member states of the authority to strengthen their national electrical networks and increase their reliability to ensure the sustainability of electrical energy at all times.
He pointed out that the project will contribute to achieving a number of sustainable development goals, including, the third goal (good health and well-being), the fourth goal (quality education), the seventh goal (providing clean and affordable energy), the eighth goal (providing decent work and economic growth), the eighth goal The ninth (industry, innovation and infrastructure), the eleventh goal (providing sustainable cities and local communities), the seventeenth goal (contracting partnerships to achieve the sustainable development goals).
The project consists of the construction of a new interconnection station within the Gulf interconnection system in the Wafra area in the State of Kuwait on an area of about 62,000 square meters and the extension of 400 kV dual-circuit overhead transmission lines with a length of about 255 km to connect the new station with the Al-Fadhili substation in the Kingdom of Saudi Arabia Saudi Arabia and the extension of 400-kilovolt dual-circuit overhead transmission lines from Al-Wafra station to Al-Faw station in the south of the Republic of Iraq, affiliated with the Iraqi Ministry of Electricity, with a length of about 295 kilometers.
The project also includes the supply and installation of circuit breakers, electrical reactors, and measurement and control systems for the construction and expansion of substations in Wafra, Fadhili and Faw.
The project also includes adding new electrical facilities to enhance the network connected to the Wafra station in Kuwait to enable it to accommodate an electrical capacity of about 2500 megawatts, as well as strengthening the network in southern Iraq linked to the Faw station to enable it to accommodate an electrical capacity of no less than 500 megawatts. The project includes advisory services for the preparation of environmental and social studies and supervision of implementation.
The Kuwait Fund loan represents the first loan provided by the Fund to the Electricity Interconnection Authority of the Cooperation Council for the Arab States of the Gulf to finance the project to strengthen the Gulf electrical interconnection system and connect to the southern Iraq network. The Fund also intends to provide a second loan to finance the project according to the terms that will be agreed upon later in the second loan agreement
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