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Wed 7 Jan 2009 06:38 AM

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$900mn secured for Abu Dhabi water plant

Financing in place for power, water desalination project, set for 2011 completion.

GDF Suez has announced it has secured $900 million financing for the Shuweihat 2 power generation and water desalination project, in partnership with the Abu Dhabi Water and Electricity Authority (ADWEA).

The French energy group said lenders to the deal included Bayern LB, Calyon, KfW, Natixis, National Bank of Abu Dhabi and Standard Chartered.

Completion and start-up of the plan, which will deliver 1,500 MW of electricity generated from natural gas, and 454,610 cubic metres per day of water, is scheduled for 2011, the company said.

GDF Suez owns a 40 percent stake in Shuweihat 2, with its partner ADWEA owning the remainder. (Reuters)

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Angel 11 years ago

This is a good news for people looking for jobs in the waterplant industry. Since the dawn of the global economic crisis, more and more people became jobless. Too bad... not all people that has the necessary skills in this industry had the opportunity to find the appropriate employer

Angel 11 years ago

This is a good news for people looking for jobs in the waterplant industry. Since the dawn of the global economic crisis, more and more people became jobless. Too bad... not all people that has the necessary skills in this industry had the opportunity to find the appropriate employer.