Middle East Economic Survey


No 34



GDF Suez, GIC Awarded $2Bn Al Dur 1 IWPP Contract

A consortium composed of GDF Suez (50%) and Gulf Investment Corporation (GIC 50%) announced on 28 August that they were awarded the contract and signed a 20-year power and water purchase agreement for Al Dur 1 independent water and power project (IWPP) in Bahrain. Phase 1 of the project, to be developed on a BOO (build, own, operate) basis, will start in the summer of 2010, with full...