For inquiries on this matter, please contact
- Mitsui & Co., Ltd.
Corporate Communications Division
Today, the Tokyo Electric Power Company, Inc. ("TEPCO") and Mitsui & Co., Limited ("Mitsui") announce that the Arabian Power Company ("APC"), a project company, began commercial operation of a new natural gas advanced combined cycle plant and a desalination plant at the Umm Al Nar Power and Water Project in Abu Dhabi, UAE on July 21. APC is composed of TEPCO, Mitsui, International Power plc ("IPR"), and the Abu Dhabi Electricity and Water Authority (ADWEA).
Through the international bidding process offered by ADWEA in November 2002, APC acquired the existing Umm Al Nar project that consists of several thermal power plants with a generation capacity of 850MW and desalination facilities with a daily output of 750,000 tons of water. In addition, APC has been constructing several new expansion plants with a thermal generation capacity of 1,550MW and a desalination capacity of 110,000 tons of water per day.
The new plant was constructed utilizing Advanced Combined Cycle (ACC) Technology, of which TEPCO has extensive operation and maintenance experience. Natural gas is supplied by the Abu Dhabi National Oil Company (ADNOC).
All electricity and desalinated water will be purchased by the Abu Dhabi Electricity and Water Company (ADWEC), which is wholly-owned by ADWEA.
The existing and new facilities are operated and maintained by an operating company, ITM O&M Company Limited, which is owned 30% by TEPCO and 70% by IPR.
TEPCO trusts that through utilization of its technical expertise and O&M know-how, it will continue to develop investment in overseas businesses in a proactive manner for further growth.
Mitsui will continue to enhance and develop its overseas power and water businesses as priority areas in the infrastructure investment activities under its overall group portfolio strategy to achieve the aims of "Mitsui's Mid-Term Management Outlook".
|(1) Location||Sas Al Nakhl Island, Abu Dhabi, UAE
(15km east of Abu Dhabi)
|(2) Project Cost||Approx. 250 billion yen ($2.1 billion)|
|(3) Capacity||Existing Plant* - Power: 850MW / Water: 750,000 t/day
New Plant - Power: 1,550MW / Water: 110,000 t/day
|(4) Plant Type||Power: Advanced Combined Cycle (ACC) [New Facilities]
Water: Multi Stage Flush (MSF)
|(5) Fuel||Natural Gas|
|(6) Gas Supplier||ADNOC (ADWEC purchases natural gas from the Abu
Dhabi National Oil Company (ADNOC))
|(7) Off-Taker||Abu Dhabi Water and Electricity Company (ADWEC)|
|(8) Term||20 years from commercial operation of the new plant|
|(9) APC Sponsors||ADWEA 60%, IPR 20%, TEPCO 14%, Mitsui 6%|
* Some of the existing facilities will be closed for the commencement of commercial operation of the entire facility. APC sells 2,200MW of electricity and 650,000 tons of desalinated water per day to ADWEC.
This press release includes forward-looking statements about Mitsui. These forward-looking statements are based on the current assumptions and beliefs of Mitsui in light of the information currently available to it, and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements. The risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest annual report on Form 20-F, which has been filed with the U.S. Securities and Exchange Commission.
This press release is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.