DEWA rethinks financing options

05 August 2005
Bids were submitted on 25 July for the mandate to advise Dubai Electricity & Water Authority (DEWA) on methods of meeting future project financing requirements. The move marks a major departure for the authority, which has never previously sought commercial finance.
Bids were submitted on 25 July for the mandate to advise Dubai Electricity & Water Authority (DEWA) on methods of meeting future project financing requirements. The move marks a major departure for the authority, which has never previously sought commercial finance.

Among banks understood to have submitted a bid for the mandate are Citigroup, Dubai Islamic Bank, Emirates Bankand HSBC. Upcoming projects planned by DEWA include the grassroots Jebel Ali M power and desalination complex, which will have capacity of up to 2,000 MW and 60 million gallons a day - part of a wave of capacity building to meet soaring power demand in the emirate (MEED 3:6:05, Interview).

A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications