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FINANCIAL NEWS
Dewa allocates $1.75b for projects completion
14 Feb 2010
(MENAFN) The Dubai Electricity and Water Authority (Dewa) has earmarked a budget of $1.75 billion for the completion of its ongoing projects and the commencement of new ones, Gulf News reported.
Dewa’s Chief Executive, Saeed Al-Tayer, said that the utility’s funds are part of its strategy to improve the productivity of its network and plants.
Earlier this year, Dubai’s utility said that it plans to boost private sector involvement in its power and water sector in order to save costs. This move marked a major policy change for the emirate’s government, which had until now owned and operated all Dubai’s power plants.
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