A Sembcorp Industries joint venture will invest US$200 million (S$245 million) to expand its desalination capacity in the United Arab Emirates, it said on Thursday as it signed a 20-year water purchase agreement with the Abu Dhabi Water & Electricity Company,
The joint venture, Emirates Sembcorp Water & Power Company, owns and operates the Fujairah 1 Independent Water and Power Plant (IWPP), one of the world's largest operating hybrid desalination plants, in the UAE. Sembcorp holds an effective 40 per cent stake in the joint venture and will fund its portion of the investment from internal resources, it said.
The expansion, which is expected to be completed in the first half of 2015, will increase the Fujairah 1 IWPP's seawater desalination capacity by 30 million gallons per day.
TODAYonline | Business | Sembcorp in S$245m expansion in UAE
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