QEWC bids for Sur Power Project
AGM reveals company's interest in Oman's energy future
Qatar Electricity and Water Company (QEWC) has announced it will bid for the Sultanate of Oman’s Sur Power Project, in a consortium that also includes Marubeni, Chubu and Bahwan Engineering Company.
Addressing the Annual General Assembly of QEWC shareholders, Deputy Premier and Chief of the Emiri Diwan H E Abdullah bin Hamad Al Attiyah also said that the company is studying the proposal for the establishment of a power plant in India in partnership with the National Thermal Power Corporation of India.
The company also has other projects in the pipeline, including the establishment of a power plant in Nasiriyah, Syria, and participation in a power plant in Seoul, Korea, in partnership with SK E&S.
In domestic investements, an agreement has been signed between QEWC and Qatar Petroleum to cover the projected increase in requirement for elecgtricity at the Halul Island, which is expected to reach 20MW by 2013.
Rented diesel generators will be used to provide electricity to Halul temporarily until the implementation of the Sea Cable Project, which will secure the future needs for electricity in the island, is completed. QEWC has floated tender for the supply of the diesel generators and ENERCO has been selected as the preferred bidder.
Abdullah bin Hamad said the company has developed various sources of income through development and participation in various power generation and water desalination projects, and during the year, he said, the company managed to complete its fully owned RAF A1 water desalination station.
“So far the company has participated in four independent power projects in Qatar,” he said. “During the year the Mesaieed Power Company project, in which QEWC holds 40 percent, reached its project completion and QEWC increased its ownership in Ras Laffan Power Company to 80 percent through the purchase of shares previously held by AES Corporation.”
QEWC holds 45 percent shares in Ras Girtas Power Company. In addition to the investments in power and water sector, QEWC holds a large portfolio of investments in Qatar Exchange though utilisation of surplus cash available and this has positively reflected on QEWC financial results and provides liquidity for the new projects.