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AES Corporation, which has been awarded the $750 million power and desalination plant project in Qatar, will own a 55 per cent equity interest in the business.
The plant in Ras Laffan, expected to be fully on stream by May 2004, will be operated by AES, which is expected to contract a consortium to build the facility.
The remaining 45 per cent stake in the project will be held by Qatar Petroleum and Qatar Electric and Water Company, along with GCC investment firm Gulf Investment Corporation (GIC).
The plant, a natural gas-fired, combined-cycle cogeneration power and water desalination project, will supply 750 MW and 40 million gallons of water a day.
