Hassan Al -Sitry
The Parliamentary Financial and Economic Affairs Committee approved a draft law to ratify the framework agreement and the Agency and Security Agreements between the Government of the Kingdom of Bahrain and the Islamic Development Bank to finance the project of establishing the new Al -Jasra station with an effort of 400 kV, facilities for Decree No. (86) for the year 2024.
The Ministry of Finance and National Economy confirmed the agreement to finance the new Al -Jasra station project that is one of the best costs, given the conditions of financial markets, especially as it is provided by financing funds characterized by a low cost of borrowing, a long allowance period of 7 years, and a long -term payment period of up to 25 years.
The Ministry’s role is limited to guaranteeing the loan only. As for its payment plan, this falls within the jurisdiction of the Electricity and Water Authority; Being considered one of the association’s loans.
The Ministry of Electricity, Water Affairs, Electricity and Water Authority confirmed that borrowing is a strategic option that allows the authority to fulfill the requirements of growth and meet the increasing demand for services in light of the need for capital to implement these vital projects without a significant impact on the cash flows of the authority.
We showed that the project range includes the construction of an effort power power transmission plant (220/400) kilometers in the Al -Jasra area, extending 42 km from the ground cable lines of 400 kV, and extending 30 km of ground cable lines, 220 kV, and extending transport lines linking the station to the consumers. The project of establishing the new Al -Jasra station also includes providing consulting services to supervise business, financial audit services, and an emergency response component. The project of establishing the new Al -Jasra station in general aims to meet the increasing demand for electricity and improve the performance of electricity transmission in Bahrain by the year 2027, and the implementation and operation of the new Al -Jasra station project will avoid many extra loads and keep the electrical current within the limits of the current load capacity of the electrical network in the Kingdom.
