Dubai : Dubai Electricity and Water Authority (Dewa) will complete payment of Dh16 billion in outstanding obligations for ongoing projects within two years, the utility company's head said.
Business | Investment
Dewa plans to pay Dh16b for projects in two years
Amount includes Dh10b for Jebel Ali plant
- Staff Report
- Published: 00:00 October 4, 2011
Dewa Chief Executive Saeed Mohammad Al Tayer told Al-Bayan newspaper that the payments included Dh6 billion for projects including electricity distribution installations and Dh10 billion for the Jebel Ali power and desalination M plant.
He said the payments would be made during 2012 and 2013.
Dewa issued Dh7.35 billion worth of bonds in October 2010.
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It is the sole provider of electricity and water in Dubai, but the Dubai government could soon allow other providers into the market.
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