Business | Construction
Four northern emirates to invest $15b in utility sector
Four northern emirates in the UAE will spend $15 billion to increase power and water supplies over the next decade, an official from the Federal Electricity and Water Authority (Fewa) said on Sunday.
- Bloomberg
- Published: 00:21 February 11, 2008
Dubai: Four northern emirates in the UAE will spend $15 billion to increase power and water supplies over the next decade, an official from the Federal Electricity and Water Authority (Fewa) said on Sunday.
"We will need 25 per cent of that amount to improve existing power and water facilities," Safwat Radwan, a Fewa engineer, said in an interview during an electricity exhibition in Dubai.
Fewa plans to boost current installed capacity of 1,200 megawatts to 2,000 megawatts for the northern emirates - Ras Al Khaimah, Ajman, Umm Al Quwain and Fujairah by 2018.
Fewa will start tenders in May this year for eight 100- megawatt gas turbines that are expected to cost about $350 million each, Radwan said.
Each power plant will be joined by a desalination plant, he added.
Abu Dhabi, Dubai and Sharjah, the remaining three emirates, each have their own utility company.
All the emirates are using petrodollars to develop new industries such as manufacturing and real estate to reduce dependence on income from oil and gas exports, boosting demand for power and water.
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