Energy: UAE company bids for Algerian power plant project

United Arab Emirates based Mubadala Development Company, has entered into a joint bidding agreement with SNC-Lavalin Inc. to bid for a project to build, own and operate a $900 million 1,200-megawatt power generation plant at Hadjret Ennous in western Algeria.

Under the agreement Mubadala Development and SNC-Lavalin will own a 51 per cent stake in the project company, while the remaining 49 per cent stake will be owned by Algerian government bodies.