Release date: 29 July 2008
Promoter – Financial Intermediary
Public Establishment of Electricity for Generation and Transmission (PEEGT)Location
Description
The project involves the construction and operation of a second natural gas fired combined cycle module of 750 MW at Deir Ali power plant.
Objectives
The objective is to meet growing electricity demand at a competitive cost, using modern combined-cycle technology, and increase the fuel efficiency of PEEGT power generation park by replacing inefficient oil-fired generation. The project will contribute to the expansion of basic energy infrastructure needed for the economic development of Syria.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 300 million.
Total cost (Approximate amount)
Estimated at some EUR 700 million.
Environmental aspects
Due to its size and technical characteristics the project requires an Environmental Impact Assessment (EIA) under EIB guidelines. The EIA process has started and is expected to be finalised in autumn 2008. The project is expected to contribute to meeting growing electricity demand with a lower environmental impact than other fossil fuel based alternatives.
Procurement
The project is required to be procured according to the Bank’s Guide to Procurement. The procurement process (international competitive bidding).is ongoing
Status
Signed - 8/12/2008
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).