IP-Marubeni make lowest bid in $3bn UAE project

by Reuters Monday, 23 April 2007

An alliance of Britain's International Power and Japan's Marubeni Corp. made the lowest bid in a $3 billion United Arab Emirates seawater desalination and power project, a government official said Monday.

Related Stories

But the winner of the contract would be selected by the end of May after further evaluation, said Zaal al-Hameeri, chairman of the regulation and supervision bureau at the Abu Dhabi Water and Electricity Authority.
"The IP-Marubeni consortium bid is the lowest for the Fujairah 2 project when bids were opened on Thursday," Hameeri said. "We will further evaluate the bids and have discussions with IP-Marubeni and the other groups."

"We expect to select the preferred bidder by end of May and achieve financial close by October this year," Hameeri told Reuters by telephone.

The second lowest bid was by a consortium led by France's Suez Energy and Japan's Mitsui, he said. The other two consortia were AES Corp with Sumitomo Corp. and Sembcorp with Jojitz Holdings Corp.

Early power from the Fujairah 2 Independent Water and Power Project is expected in April 2010, he said. It will have a capacity of 2,000 megawatts of power and 130 million gallons of water daily.



Search Property (3074 listed)



Enter a Development, City, Real Estate Agent or Developer name
Property Type
Added to Site
Price Range
to
Bedrooms
Area (in sqft)
to
to

Quick Links(Residental)