JORDAN: Energy sector gets $3 million investment

 Finance and Related Services

The energy sector of Jordan facing acute shortage gets the funding from the European Bank for Reconstruction and Development (EBRD) with an investment that will boost up the adequacy of energy consumption in the country’s water sector.

EBRD sanctioned a $3 million loan to the regional energy other service companies (ESCOs) owned by Engicon O&M will finance projects in water and waste water management.

The modernization of the Wala and Lib water pumping stations that serve the town of Madaba, south of Amman will be undertaken through the investment facility.

The EBRD’s investment count on, and brings up, a progressive German Agency for International Cooperation (GIZ) pilot project with Engicon ESCOs.

Through the improved pumping technology and its modification, results into greater energy competency and reduced costs for the Water Authority of Jordan, one of the country’s biggest energy consumers.

EBRD’s regional facility will provide the financing, which will also be utilized to enhance management and operation of the pumps.Read complete story at http://www.tendersontime.com/blog-detail/jordan-energy-sector-gets-3-millionvestmentnbsp-57.php