The Emirates Minister of Economy and Commerce Sheikh Fahem Bin Sultan Al-Qasemi recently announced the establishment of the Shuwayhat Energy Company, a joint stock public enterprise, reported Al-Bayan.
The new company’s capital stands at 850 million Emirate Dirhams ($231 million), divided into 85 million stocks at Dh 10 per stock value. The new company’s objective is to acquire shares in projects operating in the area of energy generation and water desalinization. — (menareport.com)
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