UAE: power & water project

Japan-based Marubeni Corp. is planning to invest USD 3 billion in a power generation and water conversion project in UAE. The Japanese government will also assist this scheme by having the government-affiliated Japan Bank for International Co-operation (JBIC) finance a portion of Marubeni’s investment. Marubeni will team up with UK-based power company International Power Plc and the UAE government to build a complex that combines a gas-fired thermal power plant and a desalination facility in the northern emirate of Fujairah. The power plant will be capable of generating two million kilowatts, while the desalination facility will be able to supply 590,000tns a day of water. Construction is scheduled to commence in December 2007, with operations expected to start in fiscal 2010.
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