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FINANCIAL NEWS
UAE’s TAQA signs USD1.6 b contract to buy power plants
02 Mar 2014
(MENAFN) A consortium led by Abu Dhabi National Energy Co (TAQA) has signed a USD1.6 billion worth deal to buy two Indian hydroelectric power plants from Jaiprakash Power Ventures, according to Arabian Business.
The group plans to invest USD616 million in the plants, and take over their non-recourse project debt, totaling USD1.6 billion in enterprise value.
UAE-India Bilateral Investment Promotion and Protection Agreement have already signed an agreement in December 2013 and a commitment made by the UAE to invest USD544 million in India”s infrastructure sector.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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