Morocco to Invest AED 4.7 Billion to Build Coal Port

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The government of Morocco has announced that a budget of 4.7 billion will be use to build Morocco to Invest AED 4.7 Billion to Build Coal Porta coal port in the Southern City of Safi.
The planned power plant is expected to import 7 million tons of coal and will supply Safi Energy Company plant with 3.5 million tons both yearly.
In lieu to this, Morocco is projected to grow its coal imports by 2017. The state further said that Morocco will increase its current 6 million tons a year of coal imports by 3.5 million tons by 2017, to meet demand from a 1,320 MW power plant being built by Safi Energy Company.
A further 3.5 million tons a year will feed a second plant with the same capacity of 1,320 MW, to be built when SEC start operating in 2017.
GDF Suez and Nareva won the AED 25 billion SEC tender in 2010, Mitsui has joined the JV in 2013 while the construction, worth USD 1.77 billion, was awarded by the company to South Korea’s Daewoo Engineering earlier 2013.
GDF, Nareva and Mitsui will invest 30pct, while they expect bank loans to cover the rest, which would be raised by the start of 2014, a statement from the company said earlier this month. SEC has signed a 30 year power purchase agreement with Morocco’s state power utility ONEE.
Currently, Morocco’s 6 million tons a year imports supply its 3 coal fired plants, which are produce 26.7% of total Moroccan generating capacity.