Dubai to build one of world’s largest ‘energy-from-waste’ plants, to cost Dh4b

  • Date: 29-Mar-2021
  • Source: Gulf News
  • Sector:Industrial
  • Country:UAE
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Dubai to build one of world’s largest ‘energy-from-waste’ plants, to cost Dh4b

Dubai: Dubai is building what will be one of the largest energy-from-waste facilities in the world, with 1. 9 million tonnes of waste to be converted into renewable energy. Investments on the plant will top Dh4 billion. The facility - to be developed as a public-private venture - will process up to 45 per cent of Dubai's current municipal waste generation, "significantly minimising the volume of municipal waste in landfills," a statement from Dubai Holding said. Located in Warsan, the project will deploy two of the largest tower cranes in the world for the installation of equipment inside the plant. "Dubai has become synonymous with breaking records over the years," said Khalid Al Malik, Managing Director of Dubai Holding. "Today, we are proud to be marking yet another milestone for the Emirate to ensure a more sustainable future for generations to come." * The project finance loan agreements - amounting to $900 million - have been finalized with Japan Bank for International Cooperation and institutions such as Société Générale Bank, KfW IPEX Bank, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd., Siemens Bank and Crédit Agricole Bank. * Nippon Export and Investment Insurance (NEXI) will provide the insurance