A Korea Electric Power (KEPCO) consortium will build a $1.43bn thermal power plant in the UAE for Abu Dhabi Water & Electricity Authority (ADWEA).
Under the terms of the contract, the consortium will build the thermal plant with a capacity of 1,600MW in Shuweihat City, 260km west of Abu Dhabi.
The construction is scheduled to begin next month and is scheduled for completion in March 2014.
The consortium plans to raise the required funds from different Japanese and South Korean banks.
ADWEA has signed an agreement with the consortium to buy the electricity generated from the plant for 25 years.