Marubeni will take a 40

per cent stake in a new project company, which will undertake the 2,000-MW gas-fired power station on a 25-year, build-own-operate-transfer (BOOT) basis. The other shareholders will be Qatar Electricity & Water Company (QEWC), also with 40 per cent, and

Qatar Petroleum (QP), with 20 per cent.

The plant will be built by Iberinco, part of Spain’s Iberdrola Group, which is Marubeni’s nominated engineering, procurement and construction (EPC) contractor. Under the fast-

track schedule, 1,000 MW of capacity will come on stream in July 2008, a further 600 MW in 2009, and the remaining 400 MW in the second quarter

of 2010. Calyon is providing

bank support.