SembCorp seals Fujairah
- From: Vol 7, Issue 7 (July 2006)
- Category: General
- Region: Middle East
- Country: United Arab Emirates
- Related Companies: Baker & McKenzie, Barclays Capital, Fichtner, HSBC, SembCorp Utilities, Simmons & Simmons, Société Générale and White & Case
The Singapore company acquired the existing assets for $1. 06 billion with an additional $420 million to be spent on a 225MW power expansion.
SembCorp Utilities and the Abu Dhabi Water and Electricity Authority (ADWEA) finally inked the joint venture documents on 5 July, which will see the subsidiary of Singapore-based SembCorp Industries embark on its first power and water investment in the Middle East.
Existing assets at the Fujairah independent power and water plant (IWPP), will be acquired by the joint venture company ...
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