Contracts for the $1.45 billion Iskenderun bituminous coal-fired power plant have been signed.
With an output of 2 x 605 MWe, the project is based on a 20-year take-or-pay electricity supply agreement between the Turkish project company ISKEN, managed by Germany’s STEAG, and the Turkish public utility TEAS. Payment will be in US dollars and guaranteed by the Turkish government. By the end of 2003, when the project comes on-line, STEAG expects the project to generate annual revenues of around DM 800 million ($390 million). RWE Energie has also been offered an option to acquire a 25 per cent stake in ISKEN.
The turnkey contract, with a value of more than a410 million ($430 million), was awarded to Siemens/KWU. The imported coal, approximately 2.9 million tonnes equivalent annually, will be procured from RAG Trading and Rheinbraun Brennstoff. The coal transhipment facility will be supplied by the Lübeck-based company Oldendorff. Babcock-Borsig will supply the Benson steam generators under licence from Siemens. Civil works will be executed by the joint venture of Turkish contractors Gama – Tekfen. ISKEN will be responsible for operation and maintenance of the plant.