East Delta Electricity Production Company (EDEPC) is working on obtaining a loan worth $125m, which will be used to upgrade the company’s power stations, reported Al Mal. The loan will be used to install mobile production units, import spare parts and other equipment for its power stations. The upgrade plan is part of an emergency plan devised by the ministry of electricity to add power capacity of 3400MW to the national grid at a cost of $ 2.7bn. Sources added that a banking alliance is expected to be created to secure the funding with a duration of 2 or 3 years.