Middle East Economic Survey

VOL. LIV

No 8

21-Feb-2011

UAE

Shuweihat S3 Project Advances, Financial Close Set For 2Q11

The $1.5bn Shuweihat S3 independent power project (IPP) has advanced with the signing of the principal contracts by the developer, and the financing is planned to be completed in April this year. The developer, which is a consortium comprised of Japans Sumitomo Corporation and South Koreas KEPCO, reached an agreement on 15 February to operate and own S3 and concluded other...