Dubai Electricity and Water Authority (DEWA), the emirate’s state-owned utility, launched an AED57.7m ($15.7m) water pipeline on Palm Jumeirah.
The pipeline, intended to meet growing consumption, will have a total length of 3km and will take approximately 18 months to complete.
"The main objective of the project is to enhance production and operational capacity, support water transmission networks and increase water flow to meet an increasing demand for water for current and future projects in the crescent area of the Palm. This will also contribute to DEWA's efforts to promote sustainable development," commented HE Saeed Mohammed Al Tayer, MD & CEO of DEWA.
"The project includes laying 600/900mm diameter water-transmission pipes made of glass reinforced epoxy to transmit water from the trunk of the Palm, crossing the tunnel to reach the crescent,” he added.
In May DEWA increased its electricity capacity by opening a $29m substation in Dubai Marina, while the utility has also raised cash for forthcoming investments via a $1bn sukuk, or Islamic bond, launched this year.
DEWA reported a 6 percent increase in annual profit for 2012, after sales revenues and cash generated from core operations rose.
The monopoly, fully-owned by the government, made a net profit of AED4.65bn in 2012, up from AED4.37bn in the prior-year period, its financial statement showed.
Cash generated from operations rose to AED7.5bn, up from AED7.4bn in 2011, and sales revenue increased 7 percent over the previous year.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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