Power Plant Construction: Emirati Taqa in Morocco
19 January 2010
Read by 4695 persons
The Abu Dhabi National Energy Company, or Taqa, announces its intention to invest 2.5 billion dollars in three power plants in Morocco and Tunisia over the next four years, reports the Emirati newspaper Khaleej Times.
Construction should begin in 2009 and commercial operation will start in 2012 and 2013, said Majid Iraqui, Taqa's general manager for North Africa and the Middle East.
In Morocco, the company is preparing to sign an agreement with the government for the upgrading of the Jorf Lasfer power plant. It will also respond to the call for tenders for the construction of a 300 megawatt wind farm in Tarfaya.
In Tunisia, Taqa is a candidate for the construction of a combined-cycle power plant with a capacity of 350 to 500 megawatts, in Bizerte. Majid Iraqui stated that his company has enough cash to finance these investments. It recently obtained 1 billion dollars in credit from Moroccan banks for its Jorf Lasfar project.
Created in 2005, this state-owned company, which has 2,800 employees, is among the largest listed in Abu Dhabi, with 24 billion dollars in assets. In 2008, Taqa reported 4.6 billion dollars in revenue and 490 million dollars in net profit.
Published on April 6, 2009
Posted online on April 6, 2009
aufaitmaroc.com
Construction should begin in 2009 and commercial operation will start in 2012 and 2013, said Majid Iraqui, Taqa's general manager for North Africa and the Middle East.
In Morocco, the company is preparing to sign an agreement with the government for the upgrading of the Jorf Lasfer power plant. It will also respond to the call for tenders for the construction of a 300 megawatt wind farm in Tarfaya.
In Tunisia, Taqa is a candidate for the construction of a combined-cycle power plant with a capacity of 350 to 500 megawatts, in Bizerte. Majid Iraqui stated that his company has enough cash to finance these investments. It recently obtained 1 billion dollars in credit from Moroccan banks for its Jorf Lasfar project.
Created in 2005, this state-owned company, which has 2,800 employees, is among the largest listed in Abu Dhabi, with 24 billion dollars in assets. In 2008, Taqa reported 4.6 billion dollars in revenue and 490 million dollars in net profit.
Published on April 6, 2009
Posted online on April 6, 2009
aufaitmaroc.com
