PARIS, July 3 French utility GDF Suez
said it signed a 25-year water and power contract with the Abu
Dhabi Water and Electricity Company as it seeks to capitalise on
growing demand in the region.
The Mirfa project will be built at a cost of about $1.5
billion and will involve the acquisition of certain water and
power facilities, the development, design, engineering and
construction of new power and water facilities, and the
operation of the plant, GDF Suez 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," Chief
Executive Gerard Mestrallet said in a statement on Thursday.
GDF Suez has five power and water plants in operation in the
UAE. Once the Mirfa project is completed, GDF Suez said it would
operate 10.4 gigawatts of power capacity and 2.77 million cubic
metres a day of water capacity.
(Reporting by James Regan; Editing by Andrew Callus)