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FINANCIAL NEWS
Frenchh GDF signs contract with Abu Dhabi Water and Electricity
04 Jul 2014
(MENAFN) French utility GDF Suez has signed a 25-year agreement with Abu Dhabi Water and Electricity Company as part of its plan to cover the growing demand in the region, according to Arab News.
The Mirfa project is expected to cost USD1.5 billion and, under the agreement, the company will acquire certain water and power facilities, develop, design, and construct new power and water facilities.
Chief Executive Gerard Mestrallet said: “This new project will allow us to pursue our growth strategy in the region and to meet the increasing demand for both electricity and water in the United Arab Emirates.”
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