Samsung wins $2.46bn Qatar power plant deal

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Samsung wins $2.46bn Qatar power plant deal

Samsung C&T Corp, has won a 2.87-trillion won ($2.46 billion) contract to build a power plant in Qatar, a report has said.

The contract calls for the construction of a combined thermal power plant with a capacity of 2,520 MW, about 15 km from the Qatari capital Doha, Yonhap news agency said quoting from Samsung C&T’s regulatory filing.

The project, also known as Facility D and developed by Umm Al Houl Power, is part of a major integrated water and power project – the biggest in Qatar – being built at a cost of $3.15 billion.

The plant at Umm Al Houl, 20 km south of Doha, will also provide 136.5 million gallons per day of water, with the first stage set to be finished in 2017 ahead of full operation in 2018.

Umm Al Houl Power is a special purpose company formed by Qatar Electricity and Water Company (QEWC), Qatar Petroleum(QP), Qatar Foundation(QF) and K1 Energy, a joint venture established by Mitsubishi Corporation(MC) and Tokyo Electric Power Company(Tepco), to develop and sell electricity and water for a period of 25 years following the completion of construction.

Hitachi Zosen Corporation(HZC) has been contracted by Umm Al Houl Power for the construction of the desalination plant

Once completed, the plant will boost Qatar’s production capacity of power and water to 11,000 MW and 535 million gallons per day respectively.

Source: Trade Arabia

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.