QEWC close to end power plant deal in Jordan

06 Jul 2011

(MENAFN) Qatar Electricity and Water Company’s general manager (QEWC), Fahad Al Mohannadi, said that the company started sealing a deal to acquire a stake in a Jordanian power plant, reported The National.

Al Mohannadi added that the Middle East’s third largest publicly traded utility by revenue considered investing in other countries like India, South Korea and Vietnam.

He also said that QEWC was forced to withdraw from the bidding on a power plant project in Saudi Arabia in March after its partner AES withdrew, in addition, the company cancelled plans to establish two power plants in Syria in May that worth around USD900 million.

It is worth noting that the power market in the Middle East is perceived as ripe for investment because capacity in most countries is constrained while demand is strong.

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