Qatar to build $1bn power plants in Syria
Qatar signs agreement to build two new power plants in Syria.
Qatar Electricity & Water Company (QEWC) will build the two 450 MW gas-fired power plants in collaboration with Syrian Qatari Holding (SQH), Gulf Times reported.
Located close to the oil fields in the North Eastern Syria, the work is expected to begin before April 2011, QEWC general manager Fahad Hamad al Mohannadi, adding: "It provides QEWC with an opportunity to expand its base outside Qatar."
QEWC, which earned QR2.6 billion in 2009, is keen to expand its operations in Europe, Asia and the GCC countries, through new projects and acquisitions.
The plant is expected to be fully operational by June 2013.
Last week, Qatar signed contracts worth QR4.28bn ($1.17bn) as part of its bid to meet future demand for electricity in the Gulf state.
The agreements included the setting up of 18 new substations, the upgrade of 11 others, in addition to the construction of a 400kV substation to support GCC power interconnection project.
Phase nine of the Qatar Electricity Transmission Network project also covers the installation of 220km of new cables and more than 85km new overhead lines.