By Islam Salem
Doha-Mubasher: Qatar Electricity & Water Co. (QEWC) will not resort to loans or bonds to finance its future projects, said Managing Director Fahad Al-Mohannadi.
On the sidelines of the general meeting held on Sunday, Al-Mohannadi told Mubasher that his company funds future projects through its cash resources and revenues from outstanding projects.
“We hope our subsidiary Nebras Power to contribute more than 40% to our earnings in the next 20 years,” the Managing Director said.
He added that QEWC started some projects last year, including Ras Abu Fontas A3 and Umm Al Houl, noting that his company will continue implementing such projects in 2016.
The general meeting approved the board’s recommendation on paying cash dividends at QAR 7.5 a share.
FY15 earnings fell 2% to QAR 1.5 billion, compared with nearly QAR 1.53 billion in 2014.
Translated by Abdul Maguid Aboshahla
