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Monday, November 21, 2005

Kuwait to provide loan for Bahrain's power network expansion

The Kuwait Fund for Arab and Economic Development (KFAED) will provide a 12-million-Kuwaiti dinar (about 40.8 million US dollars) loan to Bahrain to help expand its existing electric power network, the Kuwait News Agency reported on Sunday. A KFAED statement was quoted as saying that an accord will be signed to "help the Bahraini power network cope with the rising demand for electric power in areas with popular, commercial and industrial activity in Bahrain."

The project will "add more power to the network and expand it," the statement said.

It added that the project calls for launching 15 new transformers and adding power to 11 existing transformers to enable them to stand up to electrical and mechanical requirements.
The project also includes engineering services associated with the installations' small details, it said. This loan is the 15th provided by Kuwait to finance various development projects in Bahrain, with a total value of 450.5 million dollars.

Source: Xinhua via People's Daily Online

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