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FINANCIAL NEWS
Asec, Taqa Arabia open joint project in Sudan
24 May 2010
(MENAFN) Taqa Arabia and Asec Cement announced that they have officially inaugurated their JV plant, Berber for Electrical Power, in Sudan, Gulf News reported.
The new plant?s 42 MW power generation operation now takes care of all the power needs of Takamol, Asec Cement?s 1.6 million ton per annum greenfield cement plant in Sudan, under a 20-year offtake agreement.
Taqa Arabia?s Chief Executive Officer Khaled Abubakr said the captive 42 MW Berber plant marks major milestone for the company’s power generation business while powering Sudan?s most technologically advanced and environmentally friendly cement producer.
Fifty-one percent of Berber, a $67 million facility, is held by Global Energy (Taqa Arabia?s power arm), which brings in its technical know-how and management expertise as a licensed company for power generation and distribution.
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