Funding for power project in Tunisia

3 October 2012 – Saudi Arabia, through the Saudi Fund for Development (SFD), is providing US$114 million to build a 400 MW combined cycle power station at Sousse on the eastern coast of Tunisia. This project will help the country meet demand for electricity which has increased annually by 5%.This project also aims to improve the quality of service and reduce power cuts in the country.

The power station project will cost an estimated US$450 million and the Islamic Development Bank (IDB) is providing funding of some US$200 million toward the project. The OPEC Fund for International Development (OFID) is providing financing worth US$50 million.

The SFD is also providing a US$80 million loan to co-finance a natural gas distribution project in in eastern Tunisia, with this to cover industrial areas and municipalities, in about 100 districts.