Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- ACWA Power and APICORP sign co-investment initiative  Join our daily free Newsletter

MENAFN - Arab News - 22/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Arab News) International company for water & power projects (acwa power) and arab petroleum investments corporation (apicorp) announced monday the signing of a co-investment initiative.

according to the initiative both parties will join hands with apicorp co-investing with acwa power in its various projects in the power generation and water desalination space and across the various core geographies of acwa power.

the initiative will encompass both conventionally fired power generation facilities as also investments within the renewable energy space.

this path-breaking initiative brings together the major saudi private developer and operator with an expanding geographic footprint and a class leading multilateral financial institution with a presence across the arab world and possessing best in class capabilities in project evaluation and execution.

in effect the initiative endeavors to draw upon business synergies and deepen institutional relationship and cooperation.

paddy padmanathan president and ceo of acwa power said: 'the co-investment initiative with such a strong financial partner like apicorp will strengthen our capacity to fund our growth plans of doubling our power generation portfolio from 15.7 gw to 39 gw of electricity generation and 2.4 million m3/day to 5 million m3/day of desalinated water production by the year 2018."

ahmed al-nuaimi gm & ce of apicorp said: 'the co-investment initiative with acwa power goes very well with the new investment strategy and guidelines as per the board of directors of apicorp. it will enhance the diversification of investments and achieve strategic benefits through the creation of investment opportunities in the gulf region in particular and the arab region in general. also it will mark apicorp's entry into another important market sector. this investment will enhance the value to the shareholders of apicorp."

thamer al-sharhan md acwa power said 'this partnership capitalizes on the alignment of the business objectives of both apicorp and acwa power."


 


Arab News




  MENA News Headlines
 Feb 28 2015 - Abu Dhabi's economy to remain strong in 2015MENAFN
(MENAFN) Abu Dhabi's economy will remain resilient and its fiscal policy will stay prudent and flexible over the next two years despite the depressed oil price scenario, Khaleej Times ...

 Feb 28 2015 - Sudan explores investment opportunities for Saudi investorsMENAFN
(MENAFN) A high-level Sudanese delegation headed by Investment Minister Mustafa arrived to explore investment opportunities for Saudi investors in Sudan, Arab News reported.Trade exchange between the ...

 Feb 28 2015 - Qatar's PPI down 10.6 percent in December 2014MENAFN
(MENAFN) The Qatari Ministry of Development Planning and Statistics (MDPS) said Producer Price Index (PPI) decreased 10.6 percent last December month-on-month, QNA reported.The index decreased 28.9 ...

 Feb 28 2015 - 'Jihadi John' killer from Islamic State beheading videos unmasked as LondonerThe Peninsula
(MENAFN - The Peninsula) The masked "Jihadi John" killer who fronted Islamic State beheading videos has been identified as Mohammed Emwazi, a British computer programming graduate from a well-to-do ...

 Feb 28 2015 - Banksy Goes Undercover To Make Gaza FilmThe Peninsula
(MENAFN - The Peninsula) Banksy has released a video of a satirical travel advert for Gaza after travelling to the area undercover.The film, posted on the elusive artist's website, appears to show ...

 Feb 28 2015 - World champion Cairoli tops Qatar qualifyingThe Peninsula
(MENAFN - The Peninsula) Defending champion Antonio Cairoli brought delight to his KTM camp last night by topping the time charts in the season's first official qualifying session of the 2015 FIM ...

 Feb 28 2015 - Cricket: UAE bat against India in World CupThe Peninsula
(MENAFN - The Peninsula) United Arab Emirates captain Mohammad Tauqir won the toss and decided to bat in the World Cup Pool B game against India at the WACA Ground on Saturday.In announcing his ...

 Feb 28 2015 - Turkey, US to begin training Syria rebels from SundayThe Peninsula
(MENAFN - The Peninsula) The United States and Turkey will begin training and equipping thousands of moderate Syrian rebel forces on Sunday as part of a deal the two NATO allies signed last week, an ...

 Feb 28 2015 - Italian MPs approve Palestinian resolutionThe Peninsula
(MENAFN - The Peninsula) Italian lawmakers yesterday backed a non-binding resolution that encourages the government to recognise Palestine as a state, a move that underlines European frustration over ...

 Feb 28 2015 - Lebanon-born Syrian refugees risk stateless issueThe Peninsula
(MENAFN - The Peninsula) Syrian refugee Yasmine Khalaf lies next to her day-old daughter Israa in a Lebanese hospital, worrying that her tiny newborn risks life without a legal identity. Israa, ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help