The Dubai Electricity and Water Authority (Dewa) will tap into debt markets by 2013 raising Dh4 billion to upgrade its infrastructure and complete its current projects.
Speaking to Gulf News on the sidelines of the Arab Water and Power Forum, Saeed Al Tayer, Managing Director and CEO of Dewa said the authority is evaluating whether it may need to raise cash by selling sukuk, securitising assets, or borrowing from export credit agencies to pay for what it will owe next year and to complete its ongoing projects.
“Next year Dewa is intending to issue sukuk, securitisation and export credits worth Dh4 billion. The fund will go towards water and power projects,” he said.
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