Browse related articlesKharafi Cham, a Syrian-Kuwaiti firm, will build Syria's first private power plant following an agreement with the Ministry of Electricity, according to SANA.
The plant will have a capacity of 750 MW and will be built in Jandar near Homs, next to the existing 450-MW plant built by Mitsubishi. It will be the first power plant to be operated by the private sector.
The two parties have signed a memorandum of understanding and it is not clear yet when a formal agreement will be inked.
The entire production and supply chain of the electricity sector in Syria is in the hands of the state, although the Ministry had announced that it was seeking to attract private investors on Build-Own-Operate (BOO) basis.
In an interview with The Syria Report last April, Hisham Mashfej, Director-General of the Public Establishment for Electricity Generation and Transmission (PEEGT), had said he was negotiating with potential investors, whose major worry, he added, was the supply of gas and other sources of energy to feed the plants.
According to the Minister of Electricity, Ahmad Al-Ali, the ministry will purchase electricity from Kharafi Cham's plant, at agreed prices, while gas supplies will be at the Ministry's expense.
Kharafi Cham is a joint-venture between Cham Holding and three Kuwaiti firms (Kharafi Group, Kuwaiti Syria Holding Company (KSHC), and Kuwaiti Privatization Project Holding Co (KPPH)). It was established earlier this year with a capital of SYP 5 billion to tender for large utilities project.
The venture is one of many established between Cham Holding and Gulf companies. Two others are Emaar Cham, in joint venture with Emaar, which will focus on real estate projects, and Amlak Finance-Syria, in joint-venture with Amlak Finance, to supply home finance solutions.
Cham Holding groups around 70 major Syrian businessmen including Mr Rami Makhlouf, Nabil Kuzbari and Imad Ghreiwati.
According to Mr Mashfej, the Ministry of Electricity plans to add 4,500 MW in generating capacity in the coming three years.
Cham Holding to Operate Syria's First Private Power Plant
A joint-venture involving the Kharafi Group will build and operate a 750 MW power plant in Syria, the first to be run by a private sector firm in over four decades.
Syria: Wednesday, July 23 - 2008 at 11:07
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Jihad Yazigi, Editor, The Syria ReportWednesday, July 23 - 2008 at 11:07 UAE local time (GMT+4)
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This Article was updated on Sunday, August 10 - 2008
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