ISTANBUL- Hürriyet Daily News
Turkish Karadeniz Holding has won a $390 million tender to provide electricity to Lebanon for three years with its fleet of two ships. Lebanon suffers from blackouts for five to seven hours per day. This is the largest deal to date between Turkey and Lebanon
This photo shows one of the two Karadeniz Holding ships, which are expected to dock at port in Lebanon in 120 days at the soonest. The ships are expected to provide 270 megawatts of electricity to Lebanon for three years. Company photo
Two power-generating ships belonging to Turkish Karadeniz Holding are set to meet the electricity needs of Lebanon for three years following the signing of an agreement in Beirut.
“We are very happy that the electricity that we produce will make life easier for our Lebanese brothers. We have been working on this project since 2010 with all of our might. After a long tender process, we were able to offer the best bid given our expertise in this area,” said Karadeniz Holding Executive Board Chairman Orhan Karadeniz, joking that the Lebanese were tough bargainers.
The deal comes on the heels of the company’s successful endeavors to provide electricity to Iraq and Pakistan, according to a company press release.
Speaking at the signing ceremony, Lebanese Energy and Water Minister Gibran Bassil said that they hoped that the two ships would arrive in Lebanon soon and solve the country’s electricity shortage problems.
The two ships are expected to provide 270 megawatts of electricity for three years. Lebanon currently suffers from five- to seven-hour electricity blackouts every day, according to the press release.
Turkish Ambassador to Lebanon İnan Özyıldız said the $390 million agreement was of great importance for the two countries, stating that within the scope of the agreement, Lebanon would use the two electricity generator ships for its electricity shortage.
Turkey attaches great importance to Lebanon’s stability, the ambassador said. “This is the largest agreement signed between Lebanon and Turkey to date.” Under the terms of the agreement, the first ship will dock at the port in 120 days while the second will arrive in Lebanon 180 days later.