TAQA to spend USD2.15b capital expenditure

18 May 2014

(MENAFN) Chief financial officer of Abu Dhabi National Energy Company, the state-owned oil explorer and power supplier, said that the company expects a capital expenditure of USD2.15 billion for 2014, according to Arabian Business.

In the first quarter, TAQA has spent USD356 million, USD290 million of which was for oil and gas schemes, while the remainder was for power and water projects.

TAQA has total debt of USD21.7 billion as of March 31, of which USD11.7 billion is non-recourse project debt with scheduled repayment profile.

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