By Elsa Baxter
$52.5m soft loan will finance part of the electricity network - paper
Bahrain has signed a multi-million-dinar deal with the Kuwait Fund for Arab Economic Development (KFAED) to upgrade its electricity network, local media reports on Tuesday.
The BD19.8m ($52.5m) soft loan will finance part of the grid expansion, the Gulf Daily News reports.
"The loan will cover part of the 220kV and 66kV transportation development grid as part of a four-year-project launched in 2007," Fahmi Al Jowder, Works Minister in charge of the Electricity and Water Authority (EWA) told the paper.
Ten 220kV substations will be constructed and six others will be upgraded and expanded as part of the scheme.
The EWA also plans to upgrade and expand five 66kV substations, the paper reports.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.