VOL. XLVI

No 15

14-April-2003

UAE

Umm Al-Nar Power/Desalination Project Attracts $1.774Bn

The Abu Dhabi Water and Electricity Authoritys (ADWEAs) Umm al-Nar electricity generation/water desalination plant expansion has attracted $1.774bn in financing of which $440mn is equity, $229mn is a conventional loan (equity bridge) of a 5-year duration for asset acquisition, with the $1.105bn remainder divided between an $850mn conventional loan and a $250mn Islamic facility. The conventional facility,...