Bahrain is looking to the financial community for approximately $300 million in bank loans to finance an expansion program at the Hidd power station, said the country’s assistant undersecretary of finance, Rashid al-Meer.
Al-Meer said that all Bahrain-based banks were invited to bid for the arrangements. According to the Gulf Daily News, among the institutions likely to make a bid are the Industrial Bank of Japan, the Kuwait-based Gulf Investment Corp., the HSBC Group and Citibank.
The first phase of the Hidd power project has already been commissioned and is supplying electricity and desalinated water to various parts of Bahrain. – (MENA Report)
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