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TAQA Receives South Korea Delegation in Abu Dhabi

Source: 10/16/2012, Location: Middle East

Abu Dhabi National Energy Company PJSC (TAQA) received a private-public delegation from the Republic of Korea. The visit is part of a series of meetings to foster cooperation between Abu Dhabi and South Korea in global energy investments and follows a visit by a TAQA delegation to South Korea in September 2012.

Carl Sheldon, Chief Executive Officer of TAQA, commented: “We look forward to deepening our ties with Korea in global energy initiatives. The competitiveness of Korean EPC contractors and TAQA’s unique global footprint and unique ties to governments in the MENA region is a winning combination to drive new business.”

The South Korean delegation was led by the Deputy Minister for International Affairs of the Ministry of Knowledge Economy and included representatives of the Embassy of the Republic of Korea to the United Arab Emirates; Korea Trade-Investment Promotion Agency; Korea Electric Power Corporation (KEPCO), Korea Investment Corporation; Samsung; Daewoo; Doosan; Hana Financial Group and Korea Plant Industries Association.

TAQA already works in partnership with Korean companies KEPCO, Daewoo, Samsung, SK Group, Doosan and Export-Import Bank of Korea (Korea EximBank) in its power generation and water desalination operations and new business development opportunities in the United Arab Emirates and internationally.

Korea EximBank is a long-term strategic partner providing financing for new power generation projects including the landmark USD 1.4 Billion project financing arrangements for TAQA’s Jorf Lasfar power plant expansion in Morocco. This was the first time the Korean export credit agency had participated in a project finance transaction in Morocco.

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