No 09



Tendering For First Phase Of GCC Power Grid To Start Later This Year

Tendering for the first phase of a $1.2bn project to establish a power grid linking the states of the GCC will start later this year, with initial contracts awarded in 2005, according to Muhammad al-Zarah, chief executive of the GCC Interconnection Authority (GCCIA) in remarks published on 16 February. Financing for the project is expected to combine debt and equity. In 2002, it was announced...