Share

QEWC close to Jordanian power acquisition

QEWC will announce stake in Jordan power plant

Share
QEWC expected to announce stake in Jordanian power plant. (Getty Images)
QEWC expected to announce stake in Jordanian power plant. (Getty Images)

The Qatar Electricity and Water Company looks set to announce a ‘large acquisition’ in Jordan, as the company seeks to buy a large stake in one of the country’s power plants. Shares rose to a monthly high following the news, and while company chiefs are remaining tight-lipped about the name of the target, investors are encouraged after QEWC said it expected to close the deal in a matter of days.

QEWC is the third-largest publicly traded utility in the Middle East by revenue, and has lately been fast-forwarding plans to expand in other countries, looking at India, South Korea and Vietnam. In May the company pulled the plug on two planned Syrian power plants worth around $900m, citing unrest and instability in the region.
 

Newsletter

Most Popular