Bahrain’s Ministry of Finance and National Economy has signed a power project agreement with Arab Fund for Economic and Social Development (AFESD).
Under the agreement, AFESD will provide soft funding for projects such as the establishment of a control center for monitoring electricity and water networks at an investment of $33 million. The project aims to meet the growing need for electricity and water generation, transmission and distribution services.
The project works include operating data collection and control equipment and software for operating the electricity and water networks, and the communications network, including the fiber-optic network and accessories, and maintenance of the Supervisory Control and Data Acquisition (SCADA) system for three years.
The works also include the architectural design of the control center building, and the preparation and analysis of tender documents assisting in the analysis of bids and contracting, and supervising project implementation.
Bahrain will move ahead with economic development to achieve the desired goals, noted Shaikh Salman bin Khalifa Al Khalifa, the Minister of Finance and National Economy, after signing the deal with AFESD Director General and Board Chairman Mr. Bader Mohammed Al Sa’ad.
Shaikh Salman pointed out the significance of supporting the infrastructure projects given their role in promoting sustainable economic growth and the role of the AFESD in supporting development projects in the Arab countries.
Another agreement was signed by Mr. Wael bin Nasser Al Mubarak, Minister of Electricity and Water Affairs and CEO of the Electricity and Water Authority (EWA), Shaikh Nawaf bin Ibrahim Al Khalifa.
Mr. Al Mubarak affirmed the need to build on previous achievements brought under the comprehensive development march led by His Majesty King Hamad bin Isa Al Khalifa, and the support of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of Bahrain.
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