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14 October 2004 - The Qatar General Electricity & Water Corporation (KAHRAMAA) has awarded preferred bidder status to International Power for 40 per cent of the Ras Laffan B Independent Water and Power Plant (IWPP) in Qatar.
The 1025 MW combined cycle gas turbine (CCGT) and 60 MIGD water desalination project has been awarded on a build, own, operate and transfer basis, and will be implemented by International Power in partnership with Qatar Electricity & Water Company (QEWC), 55 per cent, and Chubu Electric of Japan, 5 per cent.
The plant, the second IWPP with international participation, will be located 80 km northeast of Doha, the capital of Qatar, close to the site of Ras Laffan A, Qatar's first IWPP. The first phase of the project is expected to be operational by 2006, with full commercial operation in 2008. The Plant's entire power and water output will be sold to KAHRAMAA under a long term Power and Water Purchase Agreement (PWPA).
International Power will provide financial information relating to the debt/equity structure of this project on signing of the PWPA, which together with financial close is expected by the end of 2004.
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