Qatar cancels plans to build 2 power plants in Syria


Qatar Electricity & Water Co QEWC.QA (QEWC) has cancelled plans to build two power plants in Syria, a spokesman said on Wednesday.

“Only a memorandum of understanding was signed. We had not entered into any (formal) agreement,” a company spokesman said, declining to give more information.

Syria has been racked by six weeks of pro-democracy protests, which have sometimes turned violent and have claimed the lives of more than 500 people so far.

Qatari media reported last year that QEWC and Syrian-Qatar Holding, set up by the two countries with $5 billion in capital, would develop two 450 MW gas-fired power plants in Syria in a project valued at $1 billion.

The project would have involved building plants in the the northeastern town of Swedeih and the industrial area of Adra, close to Damascus. Reuters



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