Financial close for Facility D Natural Gas-Fired Power Generation and Desalination Project in Qatar

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Financial close for Facility D Natural Gas-Fired Power Generation and Desalination Project in Qatar

Umm Al Houl Power (UHP) of Qatar has closed project financing for the Facility D, a natural gas-fired power generation and desalination project in Qatar.

UHO is a join venture of Mitsubishi Corporation (MC), Tokyo Electric Power Company, Incorporated (TEPCO), Qatar Petroleum, Qatar Electricity & Water Company Q.S.C., and Qatar Foundation for Education, Science and Community Development.

Project financing has been provided by the Japan Bank for International Cooperation (JBIC), the Bank of Tokyo-Mitsubishi UFJ, Ltd., Mizuho Bank, Ltd., Sumitomo Mitsui Banking Corporation, Mitsubishi UFJ Trust and Banking Corporation, Sumitomo Mitsui Trust Bank, Limited, the Norinchukin Bank, Qatar National Bank, and KfW IPEX-Bank.

The project involves the construction, ownership, and operation of a natural gas-fired combined cycle power plant with a total capacity of 2400 MW, and a desalination plant with a total capacity og 590 thousand cubic meters per day. The new facility will be developed  in the vicinity of Qatar Economic Zone 3, located some 20 km to the south of Doha.

The project will be developed on a build, own, operate and transfer (BOOT) basis. The electricity and water generated under the project will be sold to Qatar General Electricity and Water Corporation for 25 years after the completion of the plants.

The total project investment is estimated at US$3.2 billion.

In July 2015, Samsung C&T was awarded a US$2.46bn order to partially build part of the natural gas-fired power generation plant.

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