DEWA has achieved a world record by receiving the lowest bid of USD 1.6953 cents per kilowatt hour (kW/h) for this phase
The $800 million project is funded on a debt to equity ratio of up to 85/15. A syndicate of seven international and local lenders will provide the $680 million senior debt
First phase of the project has been energized and the full plant will be operational before the end of the year
The services provided by the new company, NMES, will allow leading plants in the United Arab Emirates, Oman and the Kingdom of Saudi Arabia to significantly reduce overheads and downtime due to machinery breakdown and technical issues.
The proposed joint venture with Air Products and ACWA Power will own and operate the Jazan Integrated Gasification Combined Cycle and Power Plant and Jazan Air Separation Unit, valued at approximately USD $11.5bn
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