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Sunday, November 8 - 2009

Sumitomo to buy 20% of UAE power project

  • United Arab Emirates: Thursday, September 04 - 2008 at 14:13

Japanese trading group Sumitomo Corp has agreed to buy a 20% stake in a water and power project in the UAE, reported Reuters. The company will also purchase half of a venture that operates and maintains the power and desalination plant in Shuweihat, west of Abu Dhabi. The deal would be the second water and power project in the Middle East for Sumitomo.

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