InfoAnda - KEPCO consortium signs $1.43 bn UAE power plant deal

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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World KEPCO consortium signs $1.43 bn UAE power plant deal AFP - Wednesday, February 16 Send IM Story Print KEPCO consortium signs $1.43 bn UAE power plant deal SEOUL (AFP) - – A consortium grouping Korea Electric Power Corp. (KEPCO) and Japan's Sumitomo Corp. has signed a $1.43 billion deal to build a thermal power plant in the United Arab Emirates, the South Korean firm said Wednesday. Under the deal with the Abu Dhabi Water and Electricity Authority (ADWEA), the consortium will construct a gas thermal power plant in Shuweihat city, 260 km (162 miles) west of Abu Dhabi, KEPCO said in a statement. It will raise funds through borrowing from South Korean, Japanese and other foreign banks by May and the plant will be completed in March 2014. The costs will be recovered by selling electrity produced at the plant to Abu Dhabi Water and Electricity Co, a wholly owned unit of ADWEA, for 25 years. The consortium was picked as preferred bidder for the plant last October. A KEPCO-led consortium also won a $20.4 billion deal in 2009 to build four nuclear power plants in the UAE. Recommend Send IM Story Print Related Articles SBM Offshore and Mitsubishi in oil vessel deal Reuters - 28 minutes ago Investments worth trillions at risk from climate change -study Reuters - 29 minutes ago BRIEF-Moody's rvw for pssbl dwgrd Australian major banks Aa1 rtg Reuters - 30 minutes ago BRIEF-DNO's Iraq oil deal terms "under evaluation" Reuters - 31 minutes ago China launches yuan options to support FX flexibility Reuters - 32 minutes ago News Search Top Stories Cell-based flu shot beats current vaccine: study Rapper Tinie Tempah is big winner at Brit Awards Banks 'had to know' of fraud, Madoff says Only 'best will do' for Arsenal in Barca clash Computer crushes human 'Jeopardy!' champs More Top Stories » ADVERTISEMENT Most Popular Most Viewed US golfer Woods finds old habits hard to shake Russia loses military satellite: reports US auto sales jump 17 percent in January Dow closes over 12,000 for first time since June 2008 Egypt's Mubarak to step down at September election More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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