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  • 24-04-22

    Forecasts for Dewa to register yearly profit of USD2B

    (MENAFN) The Dubai Electricity and Water Authority predicts to register a yearly profit of Dh7.3 billion (USD1.98bn) in this year, after the listing of the service formerly the current month.

    According to Saeed Al Tayer, managing director and chief executive of Dewa, statement to CNBC Arabia on Friday, Dewa is estimated to declare its first three months outcomes in May and has posted a “strong performance” the current year up until now.

    he stated, “Dewa has strong cash flows and will not need to take on debt … We have no issues for the next five years and we will not seek loans, thanks to a well-studied business plan.”

    He also added, “our projects are ongoing. We continue to develop these projects and the infrastructure according to the highest international standards.”

    MENAFN24042022000045013568ID1104082584

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