Dubai to develop $1.1 bln energy from waste facility


DUBAI, March 29 (Reuters) – Dubai Holding, the investment vehicle of Dubai’s ruler Sheikh Mohammed bin Rashid al-Maktoum, said on Monday it had partnered with five firms to develop a 4 billion dirham ($1.1 billion) energy-from-waste facility.

The consortium consists of Dubal Holding, Switzerland-headquartered Hitachi Zosen Inova, Japan’s ITOCHU Corporation, Belgium’s BESIX Group 7004.T and local construction firm Tech Group, Dubai Holding said in a statement.

The build and operate project has a 35-year concession period with the Dubai municipality, the statement said.