Tuesday, June 5, 2007

Marubeni-Led Team Close to Winning $3 Billion Power, Water U.A.E. Project

(Bloomberg) -- Marubeni Corp., Japan's fifth-biggest
trading company, said it is close to winning a contract to build
and operate a $3 billion power and water desalination plant in
the United Arab Emirates with the U.K.'s International Power Plc.

The two companies are likely to be awarded a contract in
July for the project, a spokesman at the Japanese trading house,
who asked not to be named because of company policy, said by
phone today. The companies are set to own 20 percent each of a
venture with the government, the spokesman said.


Read more at Bloomberg Energy News

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