Malysia's MMC to build coal-fired power plant in UAE

DUBAI, July 17 Thu Jul 17, 2008 7:11am EDT

DUBAI, July 17 (Reuters) - Malaysia Mining Corp Bhd (MMC) (MMCB.KL) on Thursday signed a deal worth up to $2 billion to build a coal-fired power station in the United Arab Emirates, the official UAE news agency WAM reported.

The plant would be operated by the Malaysian firm for 20 years and would be built over 40 months, the agency said, citing a member of the ruling family of the emirate of Ajman.

Part of the profit would go to the government of Ajman during MMC's 20-year management of the 1,000 MW plant. MMC will finance the construction of the plant. (Reporting by Inal Ersan, editing by Anthony Barker)