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Dewa plans to raise $1.5 billion in Q2 2010
The body is currently not looking at raising revenues by increasing tariffs, said Saeed Mohammad al-Tayer, Dewa’s CEO.
March 2, 2010 4:37 by kippreport
Dubai Electricity and Water Authority (Dewa) is planning to raise up to $1.5 billion through a bond issue during the second quarter of this year, to finance projects and pay back loans, Saeed Mohammad al-Tayer, Dewa’s CEO told reporters on Tuesday. However, he clarified that the body is not looking at increasing tariffs at the moment.
Water and power consumption in Dubai is rising rapidly, he said, adding that the number of water customers increased 20 percent last year, while the number of power customers grew 13.5 percent in 2009.