 
Utilities - News
Fitch Affirms Jebel Ali Free Zone FZE at 'B+'; Outlook Stable
(Press Release - 18/06/2013) Fitch Ratings has affirmed Jebel Ali Free Zone FZE's (JAFZ) Long-term Issuer Default Rating (IDR) at 'B+', with a Stable Outlook. Fitch has also affirmed JAFZ Sukuk (2019) Limited's senior secured rating of 'B+'/'RR4'. On 11th June 2013, Brookfield Asset ...
Dubai utility repays $871m Islamic bond
(Reuters - 18/06/2013) Dubai Electricity and Water Authority said on Tuesday it had repaid a 3.2 billion dirhams ($871.2 million) Islamic bond on June 17. "The payment of the maturity proceeds along with interest was made on June 17, 2013," Dewa said in a statement to Nasdaq ...
Marafiq to set up saline water plant
(Arab News - 13/06/2013) The Power and Water Utility Company for Jubail and Yanbu (Marafiq) has signed a deal with French Sidem and Sidem Saudi Arabia, both affiliated to Veolia Water Company, whereby the latter will undertake the engineering, construction, operation, and ...
SEC signs SR1.4b contracts for new plants to boost grid capacity
(Saudi Gazette - 09/06/2013) The Saudi Electricity Company (SEC) has signed four contracts worth over SR1.4 billion for establishing underground cables to link a number of distribution plants in several districts of the capital with a voltage of 380 kilovolts. A part of it is for ...
‘SEC prepared for power failures’
(Arab News - 06/06/2013) The Saudi Electric Company (SEC) is prepared to handle any power failure caused by high temperatures and other factors this summer in Jeddah, according to a company official. Abd Al-Moeen Al-Shaikh, chief of the western sector at the SEC, said that the ...
Global volatility may prompt Gulf issuers to reassess pricing
(Reuters - 06/06/2013) Volatility in U.S. Treasury yields and a dip in investor appetite for emerging market credits could put a brake on new issuance from the Gulf Arab region in the near term, as both sides of the market wait for prices to stabilise. Borrowers from the Gulf ...
UAE accounts for 33% of $4.8 billion GCC ad spend
(Khaleej Times - 06/06/2013) The UAE advertising industry accounted for a 33 per cent share of the GCC’s total ad spend estimated at $4.8 billion in 2012 to remain number one, as the print media continued its dominance with a 71 per cent share of the overall market. Contrary to ...
Dewa, First Solar to promote green economy
(Khaleej Times - 06/06/2013) Dubai Electricity and Water Authority, or Dewa recently signed a memorandum of understanding (MoU) with First Solar to develop a programme for training on solar energy technology to obtain specialised certificates in this field to support the Green ...
S&P revises outlook on SEC to positive from stable
(Arab News - 04/06/2013) Standard & Poor's Ratings Services (S&P) yesterday revised its outlook on Saudi Electricity Co. (SEC), described as Saudi Arabia's virtual-monopoly provider of electricity generation and monopoly provider of electricity transmission and distribution ...
GDF Suez stake in Sohar Power reduced to 35pc
(Oman Daily Observer - 03/06/2013) GDF Suez announced yesterday completion of the sale of 10 per cent of its 45 per cent stake in Sohar Power Company SAOG to an investment holding company of MENA Infrastructure Fund LP. Sohar Power Company SAOG is the owner of Sohar 1 — a 585 MW power ... |
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