| 29 May 2024, Wednesday |

US company to supply power to Lebanese cities

Banks refrain from paying education financial aids and salaries of NSSF employees

The Syndicate of the National Social Security Fund employees called on the Association of Banks in Lebanon and the Governor of the Central Bank to urge banks to provide employees educational financial aids as well as their salaries, and not to claim that they have shortage in cash funds.

The syndicate said that the NSSF accounting funds deposit billions of Lebanese pounds in banks on daily basis and across Lebanon. The syndicate called on the NSSF management not to deposit cash with banks that withhold employees’ salaries and leave for the Administrative Directorate to pay the salaries, bonuses and benefits in cash to employees and workers.

American company provides electricity to Lebanese cities

The economic sectors have gradually abandoned their need for the state to secure the simplest life services such as fuel, electricity, medicine, and food by importing these life commodities directly. The Union of Municipalities has also taken the initiative to secure electricity for its residents without resorting to the state or obtaining its approval.

An American company is touring various major municipalities in Lebanon, including Saida, Batroun and Tripoli, expressing its readiness to implement a project to provide power through solar energy. The company is negotiating currently with Saida municipality to sign a contract for establishing a plant for power production with a capacity of 100 megawatts, which can meet the consumption need in Saida and its neighborhoods including Zahrani and Ain Al-Hilweh.

This plant will provide electricity 24 hours a day. Saida Mayor Muhammad Al-Saudi, told Sawt Beirut International (SBI) that the draft contract stipulates the conclusion of a (B.O.T) agreement with the American company for a period of 30 years, meaning that the company will undertake the construction and operation of the station, and its ownership will be transferred after 30 years to Saida municipality.

A land that spans over an area of 500,000 square meters is required for this project in order to build the solar power plan. The land was provided by the municipality.

The energy produced will be sold through prepaid cards, and those who aim at obtaining power can purchase it and determine the amount of energy they want, provided that the card is refilled when the specified quantity finish. If Saida municipality signed the contract with the American company, it will shift towards solar energy within 8 months, so will other municipalities follow Saida?

Owners of private generators warn: We will turn off our generators

The Head of the Generator Owners Association Abdo Saadeh explained that if fuel subsidies were lifted generator owners will not be able to continue covering the difference in electricity rationing, as the price of a kilowatt will reach 8,000 LBP. Each ton of diesel fuel will amount to 11 million LBP, and therefore they will not be able to buy this commodity, and will turn off their generators.”

Saadeh confirmed that “the solution today is to subsidize diesel fuel, based on the exchange rate of 3,900 LBP against the dollar, so that the generator bill remains acceptable.”

  • Sawt Beirut International