Attarat Power Company Awaits Jordanian Government's Nod for Oil Shale Power Project

The Attarat Power Company is awaiting Jordanian government’s response on signing $2.4 billion oil shale-fuelled power plant project, according to a local newspaper.

"The government approved the deal... but it seems the National Electric Power [Company] is still waiting for official approval [over] parts of the agreement from the... concerned authorities before they can invite us to sign the documents," Andres Anijalg, chairman of the Attarat Power Company, said in an e-mail to The Jordan Times.

Anijalg said he hopes the power company will get the approvals from the concerned authorities shortly, allowing the company to sign power purchase agreement with the government.

Anijalg noted that the Attarat Power Company has not received an official notification from the energy minister about signing the agreement.

"As soon as the government of Jordan is ready to sign the agreement with Attarat Power Company, we can move forward with the necessary preparations to start the construction next year," he told the newspaper.

The Jordanian cabinet approved the power project earlier this year.

Attarat Power Company is a subsidiary of Eesti Energia and its partners in Jordan are YTL Power International Berhad, which owns 30% of the company, and Near East Investment, which owns 5%.

The project would require an estimated investment of $2.4 billion. It would be financed by $1.4 billion loan provided by the Bank of China and the Industrial and Commercial Bank of China, and guaranteed by China Export and Credit Insurance Corporation.

The plant's 470-megawatt capacity will account for some 15 per cent of Jordan's current overall electricity capacity of 3,200 megawatts, said The Jordan Times.