Two loan agreements, amounting to 659 million Tunisian dinars (MTD) to co-finance the project of the power generation station in Mornaguia, south west of Tunis, was signed Tuesday by Tunisia and Saudi Arabia, on the occasion of the official visit by the President Beji Caid Essebsi to Saudi Arabia from December 22 to 26, 2015.
The overall cost of Mornaguia plant construction project is estimated at 745 MTD. Its objective is to cope with increased demand for electricity in Tunisia, particularly during peak periods of consumption.
The first loan agreement in the amount of 259 MTD was signed with the Saudi Fund for Development and the Ministry of Finance of Saudi Arabia, Slim Chaker, Finance Minister, who is accompanying the Head of State in his visit to Riyadh, told TAP news agency.
The second loan of 400 MTD was signed by the Tunisian Minister of Finance and the representative of the Islamic Development Bank (IDB).