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Posted on December 26, 2013

Mr. Fahad Hamad Al Mohannadi, General Manager of Qatar Electricity and Water Company (QEWC) unveiled the near launch of commercial activity of Nebras Power Company with an initial capital of one billion US dollars. Al Mohannadi said that the launch of Nebras Power commercial activities will be during the first half of next year, pointing out that the company will immediately begin searching for good investment  opportunities regionally and globally. He also added that a five-year plan will be developed and will be effective from the first quarter of next year and he explained that Qatar Electricity and Water Company now has two investment streams to invest in the electricity and water sector one locally through QEWC (pictured) and another internationally through Nebras Power.

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The joint venture agreement for Nebras Power company was signed in May of this year among the shareholders which include Qatar Electricity and Water Company (60%), Qatar Petroleum International (20%) and Qatar Holding (20%). The company specializes in investing outside the State of Qatar in power generation, and desalination projects and related works like water treatment, heating and cooling systems, and securing fuel and equipment to load and unload the fuel for these projects. Al Mohannadi stated that QEWC started achieving attractive returns from investments outside Qatar due to its wise policy  focusing on the acquisition of good investment opportunities and avoid investment risks.

It is worth mentioning that the company was established in partnership between Qatar Electricity and Water Company, Qatar Petroleum International and Qatar Holding to promote the principle of cooperation between national companies.