Report: HSBC to Fund Zouk and Jiyeh Power Plants Rehabilitation
إقرأ هذا الخبر بالعربية
HSBC Bank won a tender to carry out maintenance work at Zouk and Jiyeh power plants instead of providing the funds from the state's treasury, al-Akhbar newspaper reported on Tuesday.
According to the newspaper, the tender that was issued by the Energy Ministry is aimed at rehabilitating the two power plants that will be able to produce additional 272 megawatts at the cost of around $350 million.
Two companies Danish BWSC company, a global turnkey developer, contractor and operator of tailored medium to large-scale power plants, and the German MAN Group -Maschinenfabrik Augsburg-Nürnberg-, will work on rehabilitating the plants within 18 months maximum.
Lebanon has long suffered from electricity outages because of shortages at its power plants whose maximum capacity is less than 1,500 megawatts but the country’s actual need exceeds 2,300 megawatts.
Last week, Lebanon met the required costs to Turkish power company Karadeniz after a long delay, which will send two power-generating vessels to help provide 700 megawatts of electricity for a period of three years.
The first vessel is expected to arrive in April, and the second would arrive in June.
The three-year contract should help make up for the power shortage that will be caused by the rehabilitation of the Zouk and Jiyeh power plants.
18 December 2012, 09:07
12
Stil doing "tar2ee3" instead of credible and long term solutions. How long must we suffer while our ministers line their pockets at our expense. Pity this nation which is in dire need of burning up all its current politicians and producing a new set of politicians whose aim is the betterment of Lebanon.
I dream when the dawn of such a day starts breaking.
18 December 2012, 10:00
02
The Zouk Power plant should have been closed 20 years ago. It is inefficient and harmful to the people of the area. Also it is on prime real estate.. they should be building new power plants and using that area to generate revenue for the government...
18 December 2012, 16:18
00
FT, who controlled the ministry of energy in previuos goverments? answer M8.LOL
18 December 2012, 10:04
02
lebanese companies are building 1000MW power plants in the Gulf in 6 months. In Lebanon, after 60years of independece we only have capacity of 1500MW!! AMAZING
18 December 2012, 12:00
01
These power plants shouldnt be in residential areas to begin with. It is like taking a problem and making it worse. We need new power plants in remote areas.
18 December 2012, 13:03
11
Thanks God for the FPM & C&R Block. Thank God the thieves have been nooted out of government democratically and not by the sword as they are used to. The government is only a new government and hasn't even been governing for 2 years & has already achieved so much for the Lebanese in the Power & Telecommunications Sector whilst all the other thieves ever did was steal and rob the treasury of it's treasures. THey should be tried and hung by their balls in the dungeons of Yarze!
18 December 2012, 13:48
21
I dislike HSBC... I closed my UK and US accounts with them. They're thieves like most banks in this world.
