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FINANCIAL NEWS
Qatar, Mitsubishi to sign USD1.09b hydroelectric deal
02 Mar 2015
(MENAFN) State-controlled Qatar Electricity and Water Company (QEWC) is set to sign a USD1.09 billion contract to build the Gulf country’s largest power and water plant to Mitsubishi, Emirates 247 reported.
The project is forecast to be completed in 2016 and it is to be fully owned by QEWC. The company also plans to construct another water desalination plant in Ras Laffan, set to be 60 percent owned by QEWC, according to its general manager.
“This project has entered the final stage of launching. Mitsubishi has won the contract by submitting the lowest bid and it will be awarded within a week,” the general manager of QEWC added in the statement.
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