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Qatar Islamic helps fund $150m desal plant

Doha, March 23, 2008

Qatar Islamic Bank said on Sunday it had agreed with Qatar Electricity and Water Co a $150 million Islamic finance deal to help fund a water desalination plant.

The 20-year istisna-ijara facility will be used to finance the construction of three desalination units for the Ras Abu Fontas A1 plant, the lender said in a statement.

Due to be completed in the summer of 2009, the plant will have an ultimate capacity of 45 million imperial gallons a day. - Reuters




Tags: Qatar Islamic Bank | Water desalination |

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