Malaysia's MMC to build coal-fired power plant in UAE

Malaysia Mining Corporation (MMC) on Thursday signed a deal worth up to $2 billion (Dh7.34bn) to build a coal-fired power station in the United Arab Emirates, the official UAE news agency Wam reported.

Through wholly owned subsidiary MMC Utilities Limited, the company got the rights to build a new power plant in Ajman, one of the seven emirates.

The plant would be operated by the Malaysian firm for 20 years and would be built over 40 months, the agency said.

Part of the profit would go to the government of Ajman during MMC's 20-year management of the 1,000 MW plant. MMC will finance the construction of the plant.