On October 21, 2010, a consortium of the Italian company Ansaldo Energia (23.5%) and the Greek company Metka (76.5%) signed a € 671M contract. They will be building a gas power plant with an output of 724MW of electricity in Syria. This will be the second plant supplied to Syria by the consortium. Ansaldo Energia is a subsidiary of the Finmeccanica group. The total value of Ansaldo Energia’s part of the contract equals EURO 160 million. Metka belongs to Mytilineos Holdings.
The Financing will be supplied by the European Investment Bank, the Islamic Development Bank and other Arab development funds, who will provide loans for 80% of € 671M. The rest must be financed by the Syrian state.
In June 2009, the first contract was awarded for the construction of a 700MW power station south of Damascus.
The second contract is for a plant to be built in Deir Ezzor governorate of north-eastern Syria. Work will begin in 2011. According to forecasts, the plant will provide six billion kilowatts / hour per year.
The companies will supply a combined cycle plant for the site in Deir Azzour. Ansaldo Energia will supply the plant with two AE94.3 A4 gas turbines and its generators and auxiliary systems. The company will also supply a RT30 steam turbine with its generator and auxiliary systems. It will also provide spare parts and assistance with the assembly and start-up of the plant.
With this contract, Ansaldo Energia has further cemented its role in the Syria electricity market. Syria plans to expand the country’s energy network through future development projects.