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10 April 2006 - The Abu Dhabi Water and Electricity Authority (ADWEA) will sign $1.35bn (Dh4.95bn) water and power purchase agreement with Sembcorp of Singapore for the privatization of the Fujairah Union Electricity Plant, an official said over the weekend.

"ADWEA is working presently on legal matters to sign up the deal. This is the penultimate step in the process of privatization. The deal went to the highest bidder," said Abdulla Saif Al Nuaimi, director of privatization at ADWEA, on the sidelines of the International Conference on Privatization of Infrastructure Facilities in Abu Dhabi.

The Abu Dhabi Executive Council has given the green light to the deal, he said, and added that ADWEA has raised about Dh40bn from its privatization programme so far.

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