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FINANCIAL NEWS
Fujairah inaugurates USD2.8b Qidfa plant
10 May 2011
(MENAFN) Abu Dhabi Water and Electricity Authority’s (Adwea) CEO, Saif Al Nuaimi, said that the power and network authority launched the USD2.8 billion F2 Qidfa greenfield power plant in Fujairah, reported Gulf News.
Al Nuaimi added that the plant would enhance the economic and industrial development in Fujairah and the northern region, adding that being the largest plant in the UAE; it would operate with 2,000 megawatts of net power capacity and 130 million gallons a day of net water capacity.
He also said that the Fujairah F2 power and desalination plant is the latest addition to (Adwea) power and water network, it took the company three years to build it and started operations since last January, adding that as a result of expected 10 to 15 percent growth in water and electricity demand, there would be a need to construct one power and desalination plant in the country every two years.
It is worth noting that the F2 plant which would enhance power in the UAE national power grid in addition to the GCC power grid, was sixty percent financed by the Japan Bank of International Cooperation (JBIC).
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