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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
05 Aug 2024
With the support of BBK, BIBF and BJA hold a graduation ceremony for journalists completing the training program
29 Jul 2024
BBK discloses its financial results for the half year ended 30th June 2024
09 Jun 2024
BBK Successfully Closes USD Benchmark Bond Offering at $500 Million, in Collaboration with a Consortium of Regional and International Banks.
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