A Korean-led consortium plans to launch a US$20 billion project in December to build four nuclear reactors in the UAE, the state-run power supplier said recently. Last December, the consortium led by state-run Korea Electric Power Corp. (KEPCO) won the landmark deal, the first international contract for the Asian nation's nuclear industry.
In spite of a substantial fall off in world exports of diesel generating sets up to 2000 kVA, the Middle East, comparatively, showed a more modest fall. Worldwide export figures show a US$2.5bn or 28.7 per cent fall compared to a 14.6 per cent fall in the Middle East (accounting for some US$237mn). According to Customs & Excise official statistics, exports from the UK to the Middle East fell by US$115mn (19 per cent) although their sales still outrank the rest of Europe. Surprisingly, the rest of Europe showed an increase in exports against the previous year by a handy US$52mn. By comparison, the US had a large fall of approximately US$105mn, China fell by US$43mn and Japan by US$26mn.
Two new gas turbines with a total production capacity of 400 MW will be commissioned by Dubai Electricity and Water Authority (DEWA) before the end of the current year, according to DEWA managing director and CEO, Saeed Mohammed Al Tayer. The utility will also commission two desalination units with a total production capacity of 160,000 litres of water, in addition to four auxiliary boilers according to Al Tayer. The units of power generation and water desalination project (Station M) have come into service this year to raise the production capacity of both electricity and desalinated water of DEWA.
A senior Kuwait government official has said that the quarterly report over its development plan would be referred to the cabinet in its next meeting ahead of preparing the bi-annual report next October.
Saudi Electricity has posted a 50 per cent rise in second-quarter net profit thanks to lower costs and higher revenues with further gains expected after a rise in power tariffs for some users. The Gulf's largest utility by market value made US$285.3mn in the three months to the end of June compared with US$191mn riyals a year earlier, according to a statement to the Saudi bourse. This figure is 13 per cent higher than analysts' forecasts.
Alain Charles Middle East FZ-LLC
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