Dubai: Dubai Electricity and Water Authority (Dewa) has allocated Dh6.42 billion ($1.7 billion) to complete current projects and start new ones, the utility's chief executive said Saturday.
Dewa will spend the funds "as part of its strategy to enhance the productivity of its network and plants", Saeed Mohammad Al Tayer said in a statement announcing the utility's participation in a water technologies conference to be held in Dubai in March.
Dewa last month announced plans to invite international developers for the first time to build power and water plants in the emirate, shifting away from a model of depending on debt markets and export credit financing to meet its own spending needs.
The 12th Water Technologies, Energy and Environment Exhibition (Wetex 2010) will be held from March 9 to 11.
The show, which will be spread over 15,000 square metres, has attracted participation from international and regional companies from 22 countries.
Wetex brings under one roof various organisations, out of which 219 will display their solutions to customers.
Al Tayer welcomed the participation of ministries, departments, institutions, municipalities, national and international corporations and public societies.
"Along the exhibition, a series of symposia and lectures will be held to cover several critical issues in areas of water, electricity and power, as well as developments in these fields, which will help visitors, engineers and technicians from various government and private sectors in UAE and GCC to update themselves on the latest techniques," he said.
