French GDF signs contract with Abu Dhabi Water and Electricity

Jul 04, 2014 12:00 AM

French utility GDF Suez has signed a 25-year agreement with Abu Dhabi Water and Electricity Company as part of its plan to cover the growing demand in the region.

The Mirfa project is expected to cost USD1.5 billion and, under the agreement, the company will acquire certain water and power facilities, develop, design, and construct new power and water facilities.

Once completed, the project should be able to churn out 1,600 megawatts of power and desalinize 63 million gallons of seawater each day.

Commercial operations should start within the next two years.

The French company already has five power and water plants in service in the United Arab Emirates.

Chief Executive Gerard Mestrallet said: "This new project will allow us to pursue our growth strategy in the region and to meet the increasing demand for both electricity and water in the United Arab Emirates.

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