PHOTO
A consortium of GCC financial institutions has successfully divested their approximately 20 percent shareholding in Al Dur Power and Water Co. (ADPWC) to Kyuden International Corporation, the international business arm of Japan's utility, Kyushu Electric Power Co.
In a statement released on Tuesday by First Energy Bank, a consortium member, the terms of the transaction were not disclosed. The other members of the consortium are Ibdar Capital, Bahrain Islamic Bank, and Bunyah GCC Infrastructure Fund.
Kyushu Electric owns and operates generation, transmission and distribution facilities in over 10 countries including Japan.
ADPWC is a gas-fired power generation and seawater reverse osmosis desalination facility in Bahrain with net power capacity of 1,234 megawatt and 48 million imperial gallons per day of water production capacity.
(Writing by Brinda Darasha; editing by Seban Scaria)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021
