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Article: First Energy Bank takes nine per cent of Al Dur.
- Article from:
- CPI Financial
- Article date:
- September 17, 2009
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Byline: news@cpifinancial.net (Staff Writer)
With a total investment of BHD 50 million ($132.6 million), FEB becomes a significant shareholder in the Al Dur project, which is located on the southeast coast of the Kingdom. The project is said to be on track to meet completion dates and be fully operational in the summer of 2011. It will produce 1,234 megawatts of power and 48 million gallons of water when operational.
Deputy Chief Executive Officer and Chief Investment and Business Development Officer Mohamed Ghanem commented, "Representing a solution to the rising demand for both water and electricity in the Kingdom, the Al Dur water and power production ...