Mubadala joins scheme

13 January 2006
Abu Dhabi government-owned Mubadala Development Companyhas signed a joint venture agreement with Canada's SNC Lavalinfor the development of the 1,200-MW combined cycle power plant at Hadjret Ennous.
Abu Dhabi government-owned Mubadala Development Companyhas signed a joint venture agreement with Canada's SNC Lavalinfor the development of the 1,200-MW combined cycle power plant at Hadjret Ennous.

Under the agreement, the two companies will each take a 25.5 per cent stake in the project company, with the remaining 49 per cent being held by the client, state-owned Algerian Energy Company. SNC Lavalin was awarded the estimated $900 million contract to build the facility in mid-December (MEED 23:12:05).

The two companies are also negotiating the acquisition of a stake in the newly-built 825-MW combined cycle power plant at Skikda (MEED 29:4:05).

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