Search Site

DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.

Meraas awards construction contract

The $272m contract has been awarded for Bluewaters Bay.

DEWA commissions 3 new substations costing $11.70m

Saeed Mohammed Al Tayer
    • The substations have a conversion capacity of 450MVA

    • Courtesy DEWA, World Bank report says firms in UAE can get electricity in the shortest time in the world

    DUBAI: Dubai Electricity and Water Authority (DEWA) has commissioned three new substations with a conversion capacity of 450 megavolt-amperes (MVA) in addition to 132 kV ground cables that extend on 35 kilometers and are connected to the main transmission network.

    The total cost of the projects that were commissioned in May and June was over AED 430 million ($11.70 million). The new substations supply Al Barsha 1, Mirdif, and Wadi Al Safa 2.

    Completing these stations required 4 million safe working hours using world-class technologies to ensure the highest levels of safety and security, DEWA said in a statement.

    “The total value of DEWA’s investments in electricity transmission is AED 8.8 billion, including AED 2 billion for key 400 kV transmission projects and AED 6.8 billion for 132 kV projects,” said Saeed Mohammed Al Tayer, MD & CEO of DEWA.

    The UAE, represented by DEWA, maintained its first global ranking for the third consecutive year in the World Bank’s Doing Business 2020 report. The report measures the ease of doing business in 190 economies around the world. DEWA achieved 100 percent in all Getting Electricity indicators including the procedures, time, cost, reliability, and transparency of tariffs. Commercial and industrial customers can now get electricity connections up to 150kW within five days and in one step through Al Namoos, with security deposits and new connection charges waived.

    The UAE, represented by DEWA, has the shortest time in the world for getting electricity according to the World Bank’s report.