A consortium of Korea Electric Power Corporation and Sumitomo Corporation of Japan has won a USD 1.5 billion deal to build and operate a gas fired power plant in the UAE.
The state power utility said that the new plant, with a rated capacity of 1600 M,W will be built in Shuweihat, 260 km west of the capital Abu Dhabi, by March 2014.
Under the deal with the Abu Dhabi Water and Electricity Authority the consortium will oversee the construction by Daewoo Engineering and Construction and Siemens. KEPCO will operate the plant and sell electricity from the facility for the following 25 years.
KEPCO said in the statement that it expects the deal to greatly enhance its standing in the UAE electricity market, one that is emerging as a key market in the Middle East region.
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