DEWA to pay back $4.4bn project loans
Payments to be made over the next two years
Dubai Electricity and Water Authority, DEWA, is to complete payment of $4.36bn in outstanding obligations for its ongoing projects within the next two years.
Saeed Mohammed al-Tayer, CEO and MD of DEWA, told reporters that the payments would include $1.6bn for power projects, and $2.7bn for the company’s Jebel Ali power and desalination plant expansion, saying that the payments would be made by the end of 2013.
The utility recently extended the deadline for construction bids for its 1,500 megawatt Hassyan power project, which is planned to come online in 2015.