TOKYO (Thomson Financial) - Japanese trading house Mitsui & Co will
participate in 400 billion yen power and water desalination project in Qatar
through a local joint venture, the Nikkei reported on Tuesday, without citing
sources.
The trading company will sign a business agreement in Qatar's capital city
of Doha as early as this week, the business daily said.
Operations are to begin in 2011, it said.
Mitsui and a Belgian unit of French conglomerate Suez will each take 20
percent stakes in the joint venture, with the state-run Qatar Petroleum and
others holding the remaining interest.
The joint venture will oversee the construction of power generating and
water desalination facilities in the Ras Laffan Industrial City, located 80
kilometres northeast of Doha.
Mitsubishi Heavy Industries Ltd will supply the power generating turbines,
the report said.
The power station will have an output of 2.7 million kilowatts, which would
be equivalent to two nuclear power plants.
The water facilities will be equipped to supply at least 800,000 people with
water for 25 years.
(1 US dollar = 100.73 yen)
yasuhiko.seki@thomson.com
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yas/ng
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