Ajman Electricity :: BL Properties Press Realease - Ajman signs multi-billion dollar agreement to set up Electricity power plant.
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Ajman Electricity :: BL Properties Press Realease - Ajman signs multi-billion dollar agreement to set up Electricity power plant.

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Source: Khaleej Times Date: 18 July 2008

Ajman signs multi-billion dollar agreement to set up power plant.

Ajman - Shaikh Humaid bin Rashid Al Nuaimi, supreme council member and Ruler of Ajman witnessed here yesterday the signing of agreement between the Ajman government and MMC of Malaysia to set up in Ajman a 1000-megawatt power plant at a total cost of $2 billion.

Shaikh Rashid bin Humaid Al Nuaimi, Chairman of Ajman department of
Municipality and Planning, signed for the Ajman government, while Ernest
Nevaratnam, head of investment and projects - MMC Malaysia, also signed the agreement for his outfit.

In a statement after the signing of the agreement, Shaikh Rashid said the main aim of establishing the coal-driven power plant is to provide enough electricity to the new real estate projects that would be executed in the near future in Ajman, adding that the power plant would be completed within a maximum period of three and a half years. He hinted that two power plants built by the Federal Electricity and Water Authority will start operating in the next few months to provide electricity to the completed building projects until the new power plant projects is completed by MMC malaysia, which will fund the project on a Build, Operate and Transfer (bot) basis in 20 years time.