Saturday, Aug 12, 2006
DUBAI (Zawya Dow Jones)--The government of Umm Al Quwain and Saudi Arabia's Al-Rajhi Investment Group have formed a joint venture to build desalination facilities in the emirate, according to a press release Saturday.
The new company, Imdad, which is owned equally by the government and Al-Rajhi, will produce and distribute water throughout Umm Al Quwain and other emirates, and later other countries. The government and the company will invest around 2 billion UAE dirhams ($544,499) in Imdad, with production expected on line within 18 months.
Imdad will also study electricity production across Umm Al Quwain specifically, and the United Arab Emirates generally.
-By Jason Rogers, Zawya Dow Jones, +971 229 2806; jason.rogers@dowjones.com
(END) Dow Jones Newswires
08-12-06 0812ET
Copyright Zawya Dow Jones Newswires 2006
