Russia, Moscow: Russia plans to grant Cuba a loan of 1.2 billion Euros ($ 1.36 billion) for the construction of new thermal power units and the associated equipment and infrastructure.

Russia to grant Cuba $1.36B loan for power plant infrastructure

Russia, Moscow: Russia plans to grant Cuba a loan of 1.2 billion euros ($1.36 billion) for the construction of new thermal power units and the associated equipment and infrastructure.

The funds would be used to finance the construction of one unit with the capacity of 200 MW at the Maximo Gomez thermal power plant and three power units with a capacity of 200 MW at East Havana power plant with the necessary electrical equipment, reports RIA.

In July 2014, Inter RAO – Exports and Union Electrica signed a memorandum of understanding on the signing of the contract for the construction of four 200 MW units at these two power plants with the estimated cost of 1.2 billion euros.

Source: RIA