Diesel cost more in Dubai than in Abu Dhabi

The price of diesel in Dubai is set to rise again in line with surging international crude prices that are currently trading at lifetime highs past the $135 mark per barrel.

Oil industry sources told Gulf News yesterday that the Dubai-based oil retailers - Emirates National Oil Company (Enoc)Emirates National Oil Company (Enoc)Emirates National Oil Company and EmaratEmarat may raise diesel prices by up to 50 fils a gallon, or more at the pumps, to bridge the gap between domestic prices of the fuel and its prevailing price in the international market. They said the prices of industrial diesel may also be increased.

Unlike the capped gasoline prices in the UAE, whose prices are state-set, diesel prices in Dubai move in tandem with the global price trends.

Diesel, in Dubai, was selling at Dh17 per gallon yesterday. Since October 23, diesel prices in the emirate have gone up more than 54.5 per cent.

A spokesman for EnocEnoc /EppcoEppco said a review of diesel prices will take place next week. "We really need to review the prices and decide," he said.

"There's no option but to raise prices. We are buying diesel at international prices and we need to keep adjusting it, based on the landed cost of the oil product," said a source at EmaratEmarat.

Another company source said while earlier the price review for diesel used to be done twice a month, now the review by the oil retailers is continuous as the crude prices on the world markets are touching new record highs almost every other day.

"There is no margin for the oil retailers. In fact, there's a negative margin on diesel sales. We are a federal government company. People require transportation and we are providing people-oriented service," he said.

"Over the last eight years, crude oil prices have gone up 80 per cent in euro terms, while in dollar terms, due to the weakening currency, the prices have surged 240 per cent," the source added.

Abu Dhabi

Abu Dhabi, in contrast, has kept diesel prices steady at Dh8.60 a gallon. The price difference in diesel between Dubai and Abu Dhabi now is more than 97.6 per cent and this gap will widen further if the Dubai oil retailers were to increase prices all over again.

"Abu Dhabi can afford to keep diesel prices steady as they have their own crude and refinery. There's just no comparison," said a source. Adnoc officials weren't available for comment.
/Zawya/

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Number of electricity consumers rises by 19%

The growing interest in alternative energy sources is a big step forward that should be supported by the introduction of relevant legislations, said Dr Abdullah Al Amiri, chairman of the Emirates Energy Award Committee, an offshoot of the Dubai Quality Group.

"We should take all necessary measures to protect the environment and forestall further deterioration of the earth resulting from the detrimental effects of global warming," he added.

The Dubai Electricity and Water Authority (DEWA) has recently announced signing on six mega projects, worth a total of AED 12 billion, in the areas of power generation and water desalination. Some of the projects, signed with leading national and international companies, will be finished in 2009, while the rest will be completed by 2010.

Dr Al Amiri also mentioned that Dubai is making a concerted effort to do just this, through implementing initiatives such as the current waste recycling projects, which are aimed at turning waste into usable energy resources.

"The emirate is moving in the right direction to secure the necessary clean energy resources. There is a genuine tendency in Dubai to ensure hygienic conditions in the society that conform to normal energy consumption patterns and strike a balance between ecological integrity and economic development requirements," he said.

A statistical study recently released by the Federal Electricity and Water Authority (FEWA) has revealed that 588.72 million gallons of water and 756.24 Gigawatts of power were consumed in 2007.

A previous study highlighted the sharp rise in the number of electricity consumers last year, put at 331,518, compared to 279,246 in 2006.

The FEWA has already approved a draft law now submitted to the UAE National Council, adding an amendment to article 23 thereof whereby private investors shall be permitted to establish power and water plants in areas supervised by the FEWA, with the water and power tariffs to be overseen by the FEWA. The amendment has, however, triggered some reservations, for it is likely to lead to further power and water price hikes.
/WAM/

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20% growth of real estate market triggers concomitant rise in energy consumption

The double-digit energy consumption increase, fuelled by mounting growth and consumption rates, has necessitated a global trend to use alternative energy resources, particularly nuclear power, to reduce the huge expenses of constructing energy plants, keep the environment clean, and forestall the harmful effects of global warming.

Dr Abdullah Al Amiri, Chairman of Dubai Quality Group?s Emirates Energy Award, said, "The UAE?s decision to develop a nuclear energy program for peaceful purposes is appropriate for many reasons: it will cater to the requirements of the country?s economic boom, it will make optimal use of the country?s surplus petrodollar liquidity in a large-scale infrastructure project, it will contain the growing consumption rate in the country, which is driven by development projects, and finally, especially that the nuclear power plants are known to be reliable for meeting the base load requirement in any grid." "The world is eagerly waiting for the production of nuclear energy through fission or fusion of atomic nuclei, which will produce neutrons, protons and fine particles of energy that produce power. This will address the concern resulting from energy shortages," Amiri added.

Energy and water consumption in the UAE have exceeded all forecasts for last year, surging to the tune of 17%, a 10% increase on the 7% target previously set by the Federal Water Electricity Authority (FEWA), a situation that calls for the country to diversify its energy sources. According to the FEWA Director General, who singled out the property fever now gripping the country as the main cause for the increased power consumption, a nationwide real estate market growth of 20% has triggered a concomitant rise in energy consumption. FEWA has been committed to meeting the forecast 8% growth in energy consumption, but the real estate boom has far surpassed all their records and expectations. WAM

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Empower awards contract for the construction of the North District cooling plant in the DIFC

Dubai-based Emirates Central Cooling Systems Corporation (Empower) has awarded India's Voltas a AED260m ($71m) contract for the construction of the North District cooling plant in the Dubai International Financial Centre.

The contract calls for the completion of civil works, mechanical, electrical and plumbing works and the construction of the 66,000 refrigeration-tonne (RT) district cooling plant. The project is expected to be completed in 15 months.

Empower recently released details of plans for a 35,000 RT capacity Al-Quoz district cooling plant, which is scheduled for completion by June 2009.

In December 2007, it awarded a AED200m ($54m) contract to GDC Ascon to build a 40,000 RT plant for the Executive Towers at Business Bay. MEED

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A parade to mark the Earth Hour

Dubai Electricity and Water Authority (DEWA) will organise Saturday in cooperation with the General Headquarters of Dubai Police, a parade in which over 5, 000 people will take part, to mark the Earth Hour festival along other major world cities.

The event, which will be observed worldwide, is a global solidarity for climate change to combat the 'global warming' phenomenon.

Engineer Amel Kosheck, director of investment services at the DEWA said that departments, schools and individuals responded positively to take part in the lantern parade, hoping that "such a move can implant environment protection concept and guide electricity consumption".

The DEWA called on public institutions, private sector companies and individuals to take part in the Earth Hour demonstration in which students will participate. All the participants will carry lanterns during the parade to show they do not need unessential electricity for one hour in protest against global warming.

It urged the departments and employees to switch off unnecessary light at the offices and homes. The parade is scheduled to begin at the Burj Al Arab and will follow a two kilometre, police supervised, route along Beach Road to Jumeirah Beach Park and back to the Burj Al Arab.

The start of the parade will be marked by the switching off the Burj Al Arab's exterior lights and fire fountain, plunging the Dubai icon into darkness.

Organised by Dubai Holding and the Dubai Electricity and Water Authority (DEWA), the Lantern Parade will be a popular demonstration of support for Earth Hour, which will also be marked by individuals, local government departments and companies voluntarily switching off thousands of non essential lights and appliances for one hour in a show of support for the climate change initiative.

Dubai is the first Arab city to declare support for Earth Hour. du, Standard Chartered Bank and Hilton Hotels Middle East and Africa are the latest big names to declare support for Earth Hour. Other companies supporting Earth Hour include Dubai Holding and its entities, the Dubai Electricity and Water Authority (DEWA), Dubai Municipality, the Roads and Transport Authority (RTA), Leo Burnett, Dubai International Financial Centre, Dubai World Trade Centre, Nakheel, Citibank, Hewlett Packard and Emirates Environmental Group. WAM

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DEWA has awarded six contracts for the construction of power and desalination plants

Dubai Electricity and Water Authority (Dewa) has awarded six contracts worth a combined US $3.26 billion (AED12 billion) for the construction of power and desalination plants.

The first contract, worth $1.68 billion, was awarded to South Korea's Doosan Heavy Industries and Construction Company on a turnkey basis for the construction of the ‘M Station' power generation plant in Jebel Ali. It will be completed by June 2010.

The second contract, worth $1.1 billion, was awarded to Italy's Fisia-Italimpianti, also on a turnkey basis, for the construction of a desalination plant, which will produce 140 gallons of treated water a day. The target completion date is also June 2010.

The third contract was awarded to Dubai's Mammut Group for the construction of phases four, five and six of the Mushrif reservoir with a total capacity of 100 gallons a day. The contract is valued at $169 million and the project will be completed by April 2009.

The fourth contract, worth $42.2 million, was awarded to Oman's Gulf Petrochemical Services and is for a 20-inch diesel fuel oil pipeline from Jebel Ali Free Zone to Awir Power Station. It is to be completed by January 2009.

The fifth contract was awarded to France's Areva for two 400/132kV substations at Barsha and Nad Al Sheba for a cost of $222 million, and is to be completed by December 2009.

The last contract, worth $122 million, was awarded to Japan's Mitsubishi Electric Corporation for a 400/132kV substation, to be completed by February 2010. Source

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Dubai builds world's largest water reservoirs

Construction has begun in Dubai on what will become the world's largest pre-stressed concrete drinking water reservoirs to help meet the escalating demand brought on by multi-billion-dollar property development projects.

The three giant rectangular reservoirs, each with a capacity of 60 million imperial gallons, are being constructed in the Mushrif area of Dubai by the Mammut Group.

"On completion the three reservoirs will contain a total of 180 million gallons of drinking water, marking a major milestone in Dubai's expansion of its utility infrastructure," said Behzad Ferdows, chairman and CEO of the Dubai-headquartered Mammut Group.

"With rapid population growth and economic development driving an exponential increase in the demand for water, governments throughout the region are continuously boosting supply to keep pace," he added.

The Mushrif reservoirs are part of a AED12 billion package of infrastructure projects recently unveiled by Dubai Water and Electricity Authority (DEWA) designed to meet the water and electricity demands of all existing and planned projects in the emirate.

According to DEWA statistics, Dubai has a water capacity of 262 million gallons a day - due to rise to nearly 800 million gallons a day by 2015. The Mushrif reservoirs will expand DEWA's current water storage capacity from 235 million gallons to 415 million gallons.

Announcing the package of expansion projects, Saeed Mohammad Al Tayer, managing director and CEO of DEWA 's services for the ambitious projects in progress, said the projects will meet requirements of unprecedented ambitious growth in Dubai.

Construction of the reservoirs will take 15 months with preliminary prefabrication work being carried out by Mammut Group's 300,000 square metre facilities at Dubai's Techno Park. The three giant Mushrif reservoirs will cover a total area of approximately 165,000 square metres, measure 372 metres in length, 169 metres in width and 5.6 metres in depth. 270,000 cubic metres of concrete and 27,000 tonnes of reinforcing steel will be used in the construction.

The Mammut Group is one of the Middle East's largest industrial contracting and manufacturing companies with core strengths in the manufacture of pre-engineered steel and pre-cast concrete. The company employs 4,000 people and has 10 offices globally and six manufacturing plants. WAM

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Emirates Energy Award holds seminar on Carbon Emissions

Emirates Energy Award, one of Dubai Quality Group initiatives, has held a seminar on carbon emissions and preserving the environment.

Sponsored by Dubai Electricity and Water Authority (DEWA), Nakheel, DUBAL and Dubai Roads and Transport Authority (RTA), the seminar featured a presentation by Prof. Phillip Jones Chair of Architectural Science Research at the Welsh School of Architecture - Cardiff University, on implementing environmental standards to speed up the country's development programs.

Speaking of the occasion, Dr Mohammed Al Dulaimi, Awareness Programmes Coordinator, said, "This seminar was intended to implement the federal strategy objectives to promote a zero-carbon emission environment and support the national environment improvement programmes.

The aim, he added, was to increase awareness of the necessity of rationalizing energy and adopting national standards for developing real estate projects that promote environment friendly buildings and the use of garbage recycling, for example." (WAM)

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Dubai first Arab city to join Earth Hour

Dubai city has joined the WWF- Earth Hour movement, as part of a global climate change initiative, which will see thousands of lights turned off all over the city at 8:00pm on Saturday March 29, in the largest voluntary power down in history.
Dubai is the first Arab city to declare its support for Earth Hour.

"We are asking everyone in Dubai to switch off all non-essential lights for one hour, at 8.00pm on March 29, to send a message around the world that we have the power to take action against global warming and that by working together we really can make a huge difference," said Fadel Ali, executive chairman Dubai Holding Operations.

He added that "Earth Hour will clearly demonstrate the connection between energy usage and climate change, showing that we as a broader community can address the biggest threat our planet has ever faced." Dubai Holding and the Dubai Water and Electricity Authority (DEWA) have linked up to lead the initiative that also has the support of Dubai Municipality, Dubai International Financial Centre, the Roads and Transport Authority (RTA), Dubai World Trade Centre, Nakheel, Emaar and Leo Burnett.

Earth Hour, from 8:00 pm to 9:00 pm local time on March 29, will involve people and businesses turning off non essential lights and appliances for one hour to show how people working together in a spirit of openness can make a difference.

Earth Hour, which began in Sydney, Australia, in 2007, is now a worldwide environmental movement that will see millions of people turn off non-essential lighting. Earth Hour will roll through 14 time zones, starting in New Zealand and ending in the Pacific Time Zone. It will traverse more than 25 cities.

Taking action is not difficult and can be as simple as turning off a mobile phone charger when it is not in use, switching off the television or CD player at the wall, rather than leaving it on stand-by, turning off unused lights or making sure office and home computers are completely shut down.

"Earth Hour is all about people sharing responsibility for reducing greenhouse gas emissions," said Kamal Dimachkie from the Dubai office of Leo Burnett, the creative agency behind the initial Earth Hour, in Sydney.

He added that by turning the lights off for one hour on March 29, "we can turn the lights on in people's minds about the need to find better ways to live on our planet." (WAM)

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Iranian Energy Holding plans listing on DIFX

Iran is planning to list shares in a US$90 billion energy holding company on the Dubai International Financial Exchange (DIFX). The main aim of the listing would be to attract international investment to Iran's struggling hydrocarbons sector.
According to the information, the Iranian firm is considering a simultaneous listing on both DIFX and a European exchange in Frankfurt, in addition to listings in Singapore, Hong Kong or Shanghai, to gain exposure to Asian investors.

Quoting Iranian sources, MEED said discussions between the Iranian Privatisation Organisation (IPO) and DIFX about preparing the initial groundwork for the listing are underway.

It remains however unlikely that under the current regional tensions the Iranian listing would obtain the necessary clearance from the Dubai exchange.

Last Wednesday the Bush administration imposed financial sanctions on Bahrain-based Future Bank. The US alleges the bank is controlled by Iran's Bank Melli, which has been accused of providing support to Iran's nuclear program.

The US administration also has accused Iran of taking steps to evade a range of financial sanctions.

Future Bank was established in 2004 as a joint venture between two Iranian state-owned banks — Bank Melli and Bank Saderat — and a private bank based in Bahrain. Bank Melli and Bank Saderat were put on the United States' blacklist last year to have their financial assets frozen.

According to the MEED report one Iranian executive close to the talks says Dubai appears keen to move forward.

"Talks have begun but no formal deals have been signed," says the executive. "There is a preference on Iran's behalf that the Gulf exchange to host the shares will be in Dubai, but if it does not work out they will look elsewhere."

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45 million $ commited in project finance for GENSET development

Axial Vector Engine Corporation announced that its project finance agreement with a Dubai Consortium has now been set at an initial investment of forty five million USD for its new "ultra efficient multi-fuel GENSETS". This long-term construction commitment is payable at LIBOR plus 6 %. Payments are interest only for one year after facility completion and may be prepaid against a 4% penalty after two years.

Other major points updated by management include:

•One mega-watt price set at $274,500, which is 25% less than the current market leaders.

•"Carbon Credits" for each megawatt of power produced per year equals $127,000. This added value has been packaged by Emirates International Capital Advisory "EICA" to provide customers and government entities wishing to purchase AVEC GENSETS can do so by signing "power purchase" agreements.

•Income streams will then be hedged and guaranteed by third party agencies and institutions currently affiliated with EICA. Income from these power sales will be divided 60 % to EICA and 40% to AVEC during the first five years. The remaining fifteen years of the agreement net profits shall be distributed 50% percent EICA and 50% AVEC.

•With the completion of the production model of the AVEC GENSET now finished, final due diligence is being completed quickly by EICA concerning its purchase of Adaptive Propulsion Systems in Detroit Michigan USA. Plans call for a March 2008 closing and a substantial expansion of these facilities to enhance other products to market using the family of AVEC. Site reviews for additional engineering and factory space are also being studied in Jebel Ali Free Zone in Dubai as well as an expansion of the Detroit, USA facilities.

Ahmed Khalifa Chairman of AVEC stated, "We have posted on our web site a transcript of the conference call as well as pictures and photo history of our newly completed GENSET as it was shipped to Dubai for our Global premier at WETEX in Dubai."
Axial Vector™ Engine Corporation is a publicly traded company that owns, develops and licenses proprietary intellectual property regarding unique internal combustion engine technologies. AVEC is applying these technologies to develop an exciting, new, smaller and lighter internal combustion engine that produces significantly greater horsepower and three times more torque on less fuel than conventional engines of similar size.

Forward-Looking Statements

This press release may be deemed to contain forward-looking information. Any forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, and products or service line growth, may be significantly and materially impacted by certain risks and uncertainties, including, but not limited to, failure to meet operating objectives or to execute the operating plan, completion, and other economic factors. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.

Axial Vector Engine Corporation
503-471-1348
avec@emiratescapital.net

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Six new major projects in the sectors of power generation

Dubai Electricity and Water Authority (DEWA), on the sidelines of the Wetex exhibition in Dubai, signed six contracts with various global firms for major projects in the sectors of power generation, water desalination and construction of transformer stations and fuel supply lines in the emirate. The contracts worth AED 12bn were signed between DEWA's managing director and chief executive officer Saeed Mohammad Al Tayer and the CEOs of various firms.

Al Tayer said that the projects are envisioned as per directives from Vice President and Prime Minister of UAE and Ruler of Dubai H.H.Sheikh Mohammed bin Rashid Al Maktoum, and in line with DEWA's strategy which conforms to the over all strategy set for the emirate. The projects will support the city's rapid economic growth and population increase.

The AED 10.15bn power generation and water desalination plant to be set up in Jebel Ali will be operational by 2010 summer. The projects also comprise construction of a separate water desalination plant at a cost of AED 3.95bn with a total production capacity of 140mn gallons. The project will be completed by June 2010. (WAM)

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Dubai will not see any water, power scarcity

With Dubai witnessing a massive expansion in terms of area, the Dubai Electricity and Water Authority (Dewa) has affirmed that the emirate would not see any scarcity of water and electricity in times to come.

Speaking at the opening of the 10th edition of Water Technologies, Energy and Environment Exhibition (WETEX-2008) on March 11, senior Dewa officials said that Dubai would be having at least 1,000 million gallons of water and 20,000 megawatt of electricity by 2020.

The three-day exhibition is being held at the Dubai Convention Centre, Zabeel Hall.

The officials also stressed that the under construction Al Hassyan Power and Desalination Complex Project would be a landmark that would pave the way for abundance of water and electricity in the emirate.

Earlier, Shaikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance and President of Dewa, inaugurated the exhibition in the presence of senior officials.

Saeed Mohammad Al Tayer, MD and CEO of Dewa stated that Dewa was concentrating more on projects that are environmentally friendly.

“A special stand for green buildings is set at the exhibition to promote this concept that aims at the rationalisation of water and energy consumption by using designs and materials friendly to the environment. Dewa is working hard to ensure that Dubai never faces any power or water shortage in the future. With the increase in the area of the emirate, we are also coming up with new projects,” he said.

Al Tayer valued the participation of ministries, municipalities, government departments and public benefit societies as well as various countries.

“The huge participation is the best way to exchange knowhow. The exhibition will enable us as well as the other companies to know about the latest technologies available in the field,” he commented.

The exhibition accommodates major national and international companies specialising in the exhibition themes. It also forms an excellent venue for pioneer companies to promote their production in the field of water, electricity and environment. Source

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Dewa holding off on return to debt market

State-owned Dubai Water & Electricity Authority (Dewa) will wait until the second half of the year to return to the debt market after delaying a 2007 bond sale, it said on Wednesday.

Dewa has said it will need to invest $19.1 billion during the next four years, raising most of that through loans and bonds. Last year, it shelved a plan to sell bonds after the US mortgage crisis made investors more reluctant to lend.

"For sukuk (Islamic bonds) we are waiting for the market to recover," Dewa Chief Executive Saeed Mohamed Ahmed Al-Tayer told reporters. "For sukuk or long-term loans, we would only go into the market after June."

Dewa is seeking to increase capacity by 150% by 2012 from 5,000 megawatts of electricity and 255 million gallons per day of water as demand surges in the Gulf Arab emirate.

Long-term loans would have a maturity of 10 to 15 years, Al-Tayer said. Sukuk forbid the receipt of interest.

"Now, we are only looking for short- or medium-term loans," he said. Dewa started the first stage of syndication for its $2 billion, one-year Islamic loan last month, bankers said at the time.

Dewa forecasts demand for power and water will grow as much as 20% per year in Dubai, which is capitalising on the Gulf's windfall from record oil prices to develop tourism, trade and financial services. (Reuters)

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DEWA to set up the first power plant working with hydrogen energy

In an effort to bring new energy sources into the region, Dubai Electricity and Water Authority (DEWA) has signed a Memorandum of Understanding (MoU) with a consortium of three global firms from US, Canada and China to conduct a study on setting up power generation plant working with hydrogen energy.

The MoU was signed by Managing Director and CEO of DEWA Saeed Mohammed Al Tayer and the CEOs of the three international firms, Global International, Skyline Services Group and Power and Energy Limited at a special ceremony held at Hyatt Grand Hotel in Dubai on Sunday.

Al Tayer said that DEWA is keen on bringing new technologies and energy sources to cater to the ever increasing demand for power and water in the emirate in light of the continuing development. (WAM)

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DIB launches energy investment products

Dubai Islamic Bank (DIB) yesterday launched two investment products linked to the fast-growing alternative energy sector.

Launched by DIB’s Wealth Management Division, both products are linked to the DWS New Resources Fund, which targets companies active in water, agrochemicals and renewable energies. DWS is the mutual fund arm of Deutsche Asset Management.

The two Shariah-compliant products are a 10-year non-capital-protected certificate and a five-year capital-protected note. Both products, which are priced in euros with a minimum investment of 10,000 euros, are structured with and issued by Deutsche Bank, and offer biweekly redemption.

Executives at the Press briefing said the products are the first of their kind in the region, and reinforced DIB’s commitment to innovation and socially responsible investment. More specifically, they said the products give exposure to basic resources, which are coming under increasing strain as the world’s population, and therefore consumption, continues to grow rapidly. For example, demand for potable water is expected to triple over the next 30 years. Similarly, the need for alternative energy sources continues to grow as the supply of fossil fuels fails to keep pace with worldwide demand. Source

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New electricity and water tariff based on a sliding scale

Dubai Electricity and Water Authority (DEWA) will put into effect a slab tariff system for electricity and water consumption. This will be based on a sliding scale beginning this March 2008. The restructuring rate is expected to remarkably decrease the public over consumption thus enhancing reasonable consumption to retain natural resources and preserve environment.
The new system is widely adopted in developed countries around the world and it doesn't affect those who consume reasonable electricity and water and who prove to be responsible. Therefore, the system doesn't affect consumers who fall in the first slab tariff category, since the electricity and water bill is directly proportional to the total consumption amount.

Saeed Mohammad Al Tayer, Managing Director and Chief Executive Officer, DEWA emphasized that 80 percent of consumers will not be affected by the new tariff structure since they fall into the first slab in the system. The introduced system will encourage customers who fall into higher categories to minimize their consumption scales in order to move towards the first category slab.

Al Tayer stressed on the pivotal fact that the new electricity and water tariff is based on a sliding scale and he pointed out that UAE locals are excluded at this stage for their houses and farms.

Al Tayer added: "The new system ensures that our natural and energy resources are better managed for the socio-environmental benefits of the Emirate." "The community has to be more reasonable in the way resources are used. For this purpose, DEWA is launching a new series of emirate-wide awareness and educational programs for Dubai public to disseminate the culture of conserving electricity and water," Al Tayer added.

"We firmly believe that there is an escalating necessity to implement responsible energy consumption strategies. The new tariff system will encourage people to keep a closer eye on their electricity and water consumption. It will also pave the way towards a more responsible utilization of natural resources. The slab tariff restructuring move will help Dubai to meet one of the major global challenges and to integrate a conservation culture within the society," Al Tayer concluded.

The average individual consumption of 20,000 Kilowatt Hour per annum and 130 Gallons of water daily, puts Dubai amongst cities with highest power and water consumption rates per individual, thus exceeding many cities in well developed countries such as the USA, Japan, UK, Germany and Singapore. (WAM)

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ADEWA posts AED 45 billion in investment revenues

The Abu Dhabi Electricity and Water Authority (ADEWA) posted investment revenues of over AED45 billion.

Commenting after receiving the pioneer performance award, Abdullah Saif Al Nuaimi, director of privatisation at ADEWA said that :"The efforts of Sheikh Dhiyab bin Zayed Al Nahyan, chairman of ADEWA, has great impact on achievements of the ADEWA over the last few years, which were culminated by the pioneer performance award. The award followed a number of other awards received by the ADEWA on management level and execution of its distinguished privatisation programme".

Al Nuaimi thanked Sheikh Dhiyab on behalf of the employees at the ADEWA on receiving the award, which he described as 'natural due to the continuous efforts to promote work at the ADEWA'.

The award was issued to the ADEWA during the Abu Dhabi Economic Forum organised by the Economy and Business Group in recognition of its management and successful implementation of privatisation process.

The ADEWA is the first public institution to implement successfully the strategy of Abu Dhabi government to privatise public sectors - a move that puts the ADEWA under scrutiny of the international corporations, which are racing to strike partnership with. It has already attracted major US, European and Asian Companies. (WAM)

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DEWA begins construction work of AED 620 mn water supply complex

Dubai Electricity and Water and Authority (DEWA) has commenced constructing phases 4, 5 and 6 of the reservoir complex at Mushrif to meet the growing needs of the expanding city, according to DEWA CEO Saeed Al Tayer.

''Costing around AED 620 million,the three phases will have combined capacity of 180 million gallons of water (60 mn gallons for each phase).

Added to the first three phases, the new developments will raise the complex's storage capacity to 360 million gallons of water,''he said.

This, he added, will boost DEWA's storage capacity from 235 million gallons of water at present to 415 million gallons by mid-2009. (WAM)

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All eyes on Abu Dhabi's WFES

The global media which came to Abu Dhabi to cover the events of the World Future Energy Summit (WFES) mirrored the anxiety, the hope and the need for finding new energy sources for the coming generations on the blue planet.

The global spotlight was shed on Abu Dhabi with over 200 local and international media attending the World Future Energy Summit (WFES) at the Abu Dhabi National Exhibition Centre from 21 - 23 January 2008.

All eyes were on Abu Dhabi when a large number of energy experts and companies attended the official inauguration of the WFES by General Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

The opening received a series of addresses from keynote speakers including the Duke of York and a unique address from the Prince of Wales, via hologram. In addition to extensive Middle East coverage, the WFES has been covered by print, broadcast and online media from North America; Europe; Asia; Africa and Oceania. Those covering the opening included, BBC News, CNBC Arabia, CNN, Fox News, Reuters, Bloomberg, Agency France Press and Time Magazine.

'Abu Dhabi plots hydrogen future,' BBC News featured, whilst International Business Times in New York, wrote 'Abu Dhabi to invest 15 billion in alternative clean energy.' Similar coverage continued in Canada, the UK, France and China and many more countries around the world. Meanwhile, the number visitors logging onto ADNEC's website increased by more than 100pc during the week commencing January 20th with unprecedented levels of visitors accessing the site from more than 100 nations around the world.

Simon Horgan, CEO of Abu Dhabi National Exhibitions Company (ADNEC) said: 'WFES, ADNEC and the emirate of Abu Dhabi as a whole has received outstanding media support nationally and around the world. One of the primary reasons for the creation of the new state-of-the-art exhibition facilities in Abu Dhabi was to assist the leadership's aim of increasing international awareness of Abu Dhabi. Events such as WFES generate a huge amount of positive publicity for Abu Dhabi and help establish the region as a hub for international events on this scale.' Work on Phase Two of ADNEC is well underway, with the AED 580 million (USD 158 million) project scheduled for completion later this year. Completion of the second phase will see the venue double in size to become the Middle East's largest purpose-built exhibition centre. (WAM)

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