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UAE power project secures $2.15bn financing
- United Arab Emirates: Tuesday, October 20 - 2009 at 09:38
Abu Dhabi Water & Electricity Authority has secured a $2.15bn long-term financing deal for the Shuweihat 2 water and power project, Reuters has reported. The 22-year financing for the project from a consortium of 15 regional and international banks is the biggest financing deal in the region this year. Shuweihat 2, Abu Dhabi's eighth independent water and power project, is estimated to cost Dhs10bn ($2.72bn). ADWEA owns 60% of the project while France's GDF Suez and Japan's Marubeni own 20% each.
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StaffTuesday, October 20 - 2009 at 09:38 UAE local time (GMT+4)
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