Sunday, May 3, 2009

Sudan, Kuwaiti fund, sign $52 mln loan agreement

KUWAIT, May 2 (KUNA)

Sudan signed today a loan agreement with the state owned Kuwait Fund for Arab Economic Development (KFAED) to finance a project to heighten the Roseires Dam in eastern Sudan.

The deal was signed by the Sudanese minister of finance Awad Ahmed Al Jazz, and KFAED’s director-general Abdulwahab Ahmed Al-Bader.

The Kuwaiti fund will provide a loan of 52 million USD to finance the implementation of the heightening project.

The initial capacity of the dam is 3.4 md. c.m. however the accumulated silt in the dam lakes has reduced the storage capacity by 25%. The project aims to heighten Roseires dam to increase the storage capacity to 7.3 md. c.m.

The project aims at heightening the dam from its present level by ten meters as well as increasing its length at the crest by about 11.5 km to a total length of 25 km.

Also it includes the rehabilitation and renewal of the electromechanical equipment of the existing power plant and the lower water outlet gates and cranes above the dam.

The KFAED financed or participated in the funding of some twenty projects — such Marwi Dam and the road and infrastructure projects — totaling 490 million USD.

The fund also provided Sudan with three technical assistances totaling about USD 1.1 million) to finance the preparation of some technical and economic feasibility studies for a number of projects in different sectors.