DUBAI, May 25 (Reuters) - A consortium including Qatar Electricity and Water Co QEWC.QA and Mitsubishi Corporation 8058.T will build a 3 billion riyal($824 million) integrated water and power project in the south of Qatar, according to a local newspaper report.

The plant at Umm Al Houl will provide 2,520 megawatts of electricity and 136.5 million gallons per day of water, with the first stage set to be finished in 2017 ahead of full operation in 2018, the report in Gulf Times said.

The report quoted the president of Qatar General Electricity and Water Corporation (Kahramaa), Issa bin Hilal al-Kuwari, and Fahd al-Mohannadi, general manager of QEWC, as saying the project would help meet Qatar's rapidly-growing demand for power and water.

Katsuya Nakanishi, general manager at Mitsubishi, was quoted as saying the consortium had signed a 25-year agreement with Kahramaa to purchase the power and water produced by the plant.

QEWC will hold 60 percent of the project, Mitsubishi 30 percent and the remaining 10 percent will be split equally between Qatar Foundation and Qatar Petroleum QATPE.UL , according to the report.

($1 = 3.6410 Qatar riyals)

(Reporting by David French; Editing by Olzhas Auyezov) ((davidj.french@thomsonreuters.com; +971 4 362 5864; Reuters Messaging: davidj.french.thomsonreuters.com@reuters.net))

Keywords: QATAR POWER/