Financing agreed for Jebel Ali L power plant

16 September 2005 - Hyundai Engineering & Construction Co. Ltd (HECC) and Arab Bank plc has signed a $325m-equivalent multi-tranche facility to finance a Power Station EPC contract for the Jebel Ali Power and Desalination Station in Dubai.

The project is owned by the Dubai Electricity & Water Authority (DEWA). The signing ceremony was attended by Sun Kyu Kim, CFO & Executive Vice President of Hyundai Engineering & Construction Co., Ltd. and Mr. Eun Young Kim, Asia-Pacific Area Executive of Arab Bank plc.

The Consortium of Hyundai Engineering & Construction Co., Ltd., the largest construction company in Korea, and Fisia Italimpianti, which is part of the Italian construction group, Impregilo, has been contracted to build the 1200MW Power Station and 363 million cubic litres Desalination Facilities for Dubai Electricity and Water Authority's Jebel Ali Power and Desalination Station "L" Phase 2 Project.

The Project is expected to be completed in 2008, according to a press release.

Arab Bank plc is the sole Mandated Arranger for $175m-equivalent Performance & Advance Payment Guarantee Facilities and US$150m Import L/C & Refinancing Facilities to support Hyundai Engineering & Construction Co., Ltd.'s performance obligation and procurement under $696m Power Station EPC contract with the Dubai Electricity and Water Authority.

Sponsored by FLSmidth
Recommend this article Recommend this article () You recommended this article You recommended this article ()
Follow Power Engineering on Twitter

Products Showcase

Dynamic Fluoride Ion cleaning DFIC of industrial natural gas turbines Hi-Tech Furnace Systems

Dynamic Fluoride Ion Cleaning of IGT Parts

The Dynamic Fluoride Ion Cleaning (DFIC) Process from Hi-Tech Furnace Systems is able to clean deep, narrow cracks of oxides by cycling between negative, atmospheric, and positive pressure.

Latest News

Shutterstock coal production trucks

Weekly Coal Production

The Weekly Coal Production shows how much coal is being produced across the U.S.

Federal Reserve Bank of Dallas Weekly Economic Indicators financial business

The Federal Reserve Bank of Dallas' Economic Indicators

The Federal Reserve Bank of Dallas offers a glimpse into how the markets are doing domestical...

Kvaerner awarded contract for gas-fired power plant in Delaware

Kvaerner North American Construction Inc. and its joint venture partner, Parsons Brinckerhoff...

Canadian Solar purchases two solar projects

Canadian Solar Inc. has acquired a majority interest in two utility-scale solar power project...

Operators Restart Unit 2 at PPL Susquehanna

Unit 2 at the PPL Susquehanna nuclear power plant near Berwick, Pa. resumed generating electr...

Settlement agreement limits cost recovery at Edwardsport

The Indiana Utility Regulatory Commission (IURC) on Dec. 27 modified and approved a settlemen...

Toshiba in talks to sell portion of Westinghouse nuclear unit

Toshiba Corp is in talks  to sell up to 16% of its stake in the Westinghouse Electric Co...

Utah nixes nuclear waste storage facility

Plans to park radioactive waste at a storage facility in Utah have been officially called off.

Archived Articles

2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013

Current Magazine Issue

08/01/2013
Volume 117, Issue 8
1308PE_C1_digital

Buyers Guide Company Listings

Datapartner Inc

Our software Invest for Excel is used by more than 100 power companies worldwide for capital budgeting, financial modeling and valuation. We also offer a Sharepoint solution for capex portfolio.

Interdevelopment Inc

Offers management consulting and marketing, financing for power plants, particularly energy production by renewable fuels, such as wind/solar/biomass power, including compliance issues.

The Clifton Corp

Engineering and development company specializing in water resources, hydro and solar power and biogas/methane facilities. Provides development services from engineering, economic and financial feasibility to financing and operations and maintenance.

Valentin Software Inc

Valentin Software is the largest, most comprehensive and oldest developer of solar PV and thermal design, simulation, modeling and financial analysis software, with customers in over 70 countries.

Power Industry Wire News

Pulstar Launches New Website

Pulstar Launches New Website

XZERES to Present at the 2014 Gateway Conference on September 4

XZERES to Present at the 2014 Gateway Conference on September 4

Algeco Scotsman Appoints Rick Bennett as Vice President and General Manager of Remote Accommodations Division in Canada and Alaska

Algeco Scotsman Appoints Rick Bennett as Vice President and General Manager of Remote A...

Quantum Energy Secures 2nd Bakken Refinery Site

Quantum Energy Secures 2nd Bakken Refinery Site

Blue Earth Announces Long-Term Energy Savings Relationship With JBS USA Holdings, Inc.

Blue Earth Announces Long-Term Energy Savings Relationship With JBS USA Holdings, Inc.

Power Engineering

Article Archives for Power Engineering Magazine

Continuing Education

Professional Development Hours

To access a course listing associated to a specific topic listed below, click on the topic of choice from the list below.

Latest Energy Jobs

View more Job Listings >>