The Asian Development Bank has signed a $227.7 million loan agreement with Gulf SRC Company Limited for the implementation of a 2,500 MW combined cycle power plant (CCPP) project in Chonburi, Thailand. The loan agreement for the project was signed with its co-financiers, including the Japan Bank for International Cooperation and 10 other international and local commercial banks. The CCPP will provide efficient, reliable and cost-effective power generation, and utilise natural gas as a resource. It will be equipped with new high efficiency combined cycle gas turbine technology with maximum rate thermal efficiency greater than 63 per cent. It will also help in avoiding 0.74 million tonnes of carbon dioxide emissions.