Qatar has created a US$1 billion investment firm to expand its businesses in Barclays Plc to power and water assets in foreign countries. The firm will be called Nebras Power and would be 60% owned by Qatar Electricity and Water Co while Qatar Petroleum Int'l and Qatar Holding LLC would have 20% shareholdings
The move was announced by Qatari Energy Minister Mohammed Saleh Al Sada.
The investment firm would be investing in power generation, cooling and healing projects, water desalination as well as overseas projects in the same areas according to Qatar Electricity.
Qatar Electricity General Manager Fahad Hamad Al Mohannadi said, "All three parties, in one way or another, are investing in the power sector. We felt that this company will stand alone."
Nebras would be investing in power and water projects in countries having 8% growth in the demand for electricity per year. specifically in the Middle East and East Asia.
Join the Conversation