German power supplier sets up consultancy in Dubai | Business| Economy and finance news from a German perspective | DW | 24.10.2012
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German power supplier sets up consultancy in Dubai

Germany's second-largest utility company, RWE, has announced it is setting up an energy consultancy joint venture with an electricity authority in Dubai. It hopes to break into new lucrative markets.

Power supplier RWE of Germany said on Wednesday it had signed a deal with the state-run Dubai Electricity and Water Authority (DEWA) to set up of an energy consultancy in Dubai.

RWE said its technology unit specializing in the construction of power plants and DEWA aim to offer comprehensive energy consulting to interested parties in the Gulf region. It said corresponding services would be made available to energy suppliers and major industrial companies, but also to government authorities, private investors and developers.

The division of labor between the two sides would be obvious, the German utility company added. RWE would provide expertise as an international project and engineering specialist. "DEWA for its part will take responsibility for the areas of marketing, sales and local procurement," a statement said.

Brisk business ahead

RWE said the Middle East and North Africa were an interesting and growing market for the company's engineering business.

"We're convinced that RWE is the right partner to assist us in making an important contribution to more efficient and environmentally friendly energy supply in the region," DEWA Chief Executive Al Tayer commented.

Gulf states including Saudi Arabia, Qatar and the United Arab Emirates have invested billions of dollars lately in industries and infrastructure. Analysts say that the region's demand for energy will double over the next couple of years, necessitating the building of many new power plants as well as the upgrading of those already in place.

hg/hc (dpa, AFP, Reuters)