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FINANCIAL NEWS
UAE’s Dewa to increase annual budget by 33 percent in 2014
08 Dec 2013
(MENAFN) The Dubai Electricity and Water Authority, or Dewa, plans to boost its annual budget for 2014 by 33 percent compared to the current year, and said the utility is able to meet all the requirements of World Expo 2020, according to Khaleej Times.
The utility said that it will allocate USD5.59 billion for 2014 compared to USD3.76 billion this year.
Dewa managing director and chief executive Saeed Mohammed Al Tayer said: “Expenditure on projects and purchases will reach USD1.920 billion. These include important projects like the project to generate power by using clean coal, produce power from solar energy, expansions of the M-Station for power generation and water desalination at Jebel Ali, consultancy services for introducing two gas turbines and connecting them to the 400kv D-Station, the project to increase production capacity of four gas turbines at K-Station, projects to establish main power substations, laying cables, setting up control systems and fit-outs for 11kv networks, as well as the smart grid infrastructure and smart meters.”
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BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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