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Posted On: 7 January 2010 08:27 pm
Updated On: 12 November 2020 02:10 pm

:eco:Qatar planning $1bn solar power project

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Plans are afoot to build a solar power project in the country at a cost of a staggering $1bn. A number of Qatari and foreign investors are in serious talks to launch the ambitious project, a local Arabic daily reported yesterday. The idea of a solar power plant was mooted in May last year during an exhibition here. A number of international and local experts and investors attended the event. After their initial meetings the idea of the project emanated and some 25 investors, including locals and foreigners, emerged as potential partners for the solar power project. This was disclosed by Shadi Abu Daher, regional manager of the World Trade Centre, in an interview with the Arabic daily. He said the final agreement with a blueprint of the said project is expected to be ready sooner rather than later. According to Al Daher, the cost of construction in Qatar has come down by no less than 40 percent in the aftermath of the global financial crisis as raw materials have become cheaper worldwide. So this is the right time to launch key projects. Al Daher also hinted that the demand for power was growing in the country at a rapid pace because in a few years the country’s population had exploded to more than 1.6 million.