ADFD contributes Dh184 million for financing development of networks for the transfer of power in Bahrain

Abu Dhabi, June 10, 2010 (WAM)- Proceeding from the principle of boosting initiatives in support of electric power projects and aligning with its vision of consolidating the positive relations with the Gulf Cooperation Council, Abu Dhabi Fund for Development (ADFD) signed a loan agreement worth Dh184 million (approximately US$50 million) with the Government of the Kingdom of Bahrain represented by Electricity '&' Water Authority- to develop the electricity sector in Bahrain.
This project aims to develop the electricity sector in the Kingdom through the implementation of the development of electric power transmission networks with two capacities of 220 and 66 kV to meet the continuing increase in demand for electricity. In addition, the project involves construction of thirty nine conversion plant, a new expansion of one of the ten stations and laying ground cables to connect each of the stations new conversions and the equipment that will be added to the transfer stations in the existing national electricity network, in addition it will provide advisory services and institutional support for the authority.
The agreement was signed in Manama by Mohammed Saif Al Suwaidi, Acting Director General of Abu Dhabi Fund for Development and Fahmi Bin Ali Al Jowder, Minister of Works in Bahrain. The signing ceremony was attended a number of high-level officials from both sides.
Commenting on the event, Al Suwaidi said "This agreement interprets the policy and priorities of the emirate of Abu Dhabi leadership in supporting and strengthening the links between the GCC countries by harnessing the potential energies in order to achieve the joint cooperation.
For his part, Al Jowder, confirmed that this project will lead to improve the level of power in Bahrain; also, it reflects the role of the wise government of the Emirate of Abu Dhabi in promoting the mutual and fruitful cooperation with the Kingdom of Bahrain.
It is worth mentioning that the Abu Dhabi Fund for Development has started its support for developments projects in Bahrain since 1974, as it financed 8 development projects with a total value estimated at Dh700 million, and supervised the management of 4 development projects funded by the Government of Abu Dhabi with a total value of about Dh400 million, which reflects the government of Abu Dhabi commitment and its keenness to promote the process of joint cooperation in various vital sectors in the Kingdom of Bahrain – Emirates News Agency, WAM