FINANCIAL NEWS

UAE- Dewa to repay USD330m loans ahead of schedule

14 Mar 2012

(MENAFN) CEO of Dubai Electricity & Water Authority (Dewa), Saeed Mohammed al-Tayer, announced that the authority would start paying back its USD330 million loans in March, prior to the original scheduled date which was set to November, reported Arabian Business.

Al-Tayer said that Dewa’s finances were at a healthy status, pointing out that the authority has no further payments due in 2012.

It is worth mentioning that Dewa is working on a new plant called M Station that would increase the authority’s production capacity from 8,700 to 9,600 megawatts.

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