On Monday, Dubai Holding said that it would build an energy-from-waste facility.
The project will be done cooperatively by five companies, which are Dubai Holding, Hitachi Zosen Inova, ITOCHU Corp., BESIX Group, and Tech Group. The build and operate project has a 35-year concession period with the Dubai municipality, according to the statement.
The facility is estimated to worth AED4 billion (USD1.1 billion), going to treat 5,666 tpd of municipal solid waste produced by Dubai. The facility will also generate energy by processing 1.9 million tpa of waste.
The project has secured a USD900 million of finance loan agreements with Japan Bank for International Cooperation and some financial institutions, including Standard Chartered Bank and Sumitomo Mitsui Banking Corp.
