Please wait...
GulfBase Live Support
Leave a message and our representative will contact you soon
- UDC enters Guinness World Records with three new global achievements on Gewan and The Pearl Islands
- Saudi Miner Ma'aden's Profit Jumps 82% to $765 Mln in 2024
- WTO Chief Calls for Calm amid Mounting Trade War
- Closing Bell: Saudi main index closes in red at 11,811
- Bahrain All Share Index marks 2.03 points
- World food commodity prices rise in February
- Saudi Arabia submits Expo 2030 Riyadh Registration Dossier to BIE
- Ooredoo upgrades mobile payment security; partners with Evina
- Kuwait partners with Microsoft to drive AI and digital transformation
- ABK hosts EOY 2024 analyst conference
02/02/2017 05:48 AST
The Qatar Electricity and Water Company (QEWC) reported a net profit of QR1.54bn for the year ended December 2016 compared to QR1.50bn posted a year ago.
The year 2016 witnessed an increase of 4 percent in sales (QR310bn) against QR 2.9bn reported in 2015. The Earning per Share (EPS) amounted to QR14.02 in 2016 compared to QR 13.64 in 2015.
The Board of Directors of QEWC, chaired by HE Dr. Mohamed Bin Saleh Al-Sada, Minister of Energy & Industry and Chairman of the QEWC, discussed the financial results yesterday. The Board adopted the report of thedirectors for the company's activities and financial results for the year 2016 and future planned investments and the company's financial position for coming 10 years.
The Board discussed developments in the company's various projects which are under construction and under review. The major projects discussed are Ras Abu Fontas (A-3) Umm Al Houl Power and Lusail Tower Project. The meeting also discussed QEWC's foreign investments in power and water projects through Nebras Power QSC where QEWC owns 60 percent shares. Nebras Power already completed acquisition of few Projects and currently negotiating on few more acquisitions. The Board also reviewed the status of solar power project for which QEWC signed a MOU with Qatar Petroleum to establish a company for building solar power plants in Qatar.
The Board expressed satisfaction with the company's financial performance, and was optimistic that the company will have a promising future with projects and excellent future strategies. Based on the positive results achieved, the Board has decided to offer a recommendation to the General Assembly to approve the distribution of cash dividends to shareholders, equivalent to 75 percent of the nominal value of the shares, same as last year.
The Board expressed thanks and appreciation to Qatar Petroleum and Qatar Investment Authority for supporting Nebras Power QSC and to all local companies and corporation mainly Qatar Foundation for close cooperation with QEWC in its local and international projects.
The Peninsula
07/03/2025
Qatar General Electricity & Water Corporation (Kahramaa) and Qatar Electricity and Water Company (QEWC) have signed a power purchase agreement for peak electricity generation units in Ras Abu Fontas
Trade Arabia
26/10/2017
The Qatar Electricity and Water Company (QEWC) has reported a net profit of over QR1.31bn (net of non-controlling interests) for the first nine months of this year ended September 30 , up 6 percent c
The Peninsula
18/01/2017
Abu Dhabi's renewable energy company Masdar has signed a cooperation agreement with Qatar Electricity & Water Company (QEWC) and Nebras Power at Abu Dhabi Sustainability Week to develop renewable and
Gulf Times
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| ALPHADHABI | 10.90 | -0.38 (-3.37 |
| IQCD | 13.22 | -0.03 (-0.23 |
| ADNOCLS | 4.95 | -0.11 (-2.18 |
| ADPORTS | 4.26 | -0.12 (-2.74 |
| NMDC | 24.50 | 0.16 (0.65 |
09/03/2025
United Development Company (UDC), the master developer of The Pearl and Gewan Islands, has continued its global track record of accomplishments by securing three new Guinness World Records. This rema
The Peninsula
07/03/2025
Talabat Kuwait has denied rumors of a security breach, assuring customers and partners that all personal and payment information remains fully secure.
In an official statement, Bader Al-Ghan
Trade Arabia
07/03/2025
Estithmar Holding, through its subsidiary Elegancia Gabro, signed a memorandum of understanding with Qatar Primary Materials Company to enhance cooperation in supplying the raw materials necessary fo
The Peninsula
07/03/2025
Qatar General Electricity & Water Corporation (Kahramaa) and Qatar Electricity and Water Company (QEWC) have signed a power purchase agreement for peak electricity generation units in Ras Abu Fontas
Trade Arabia
06/03/2025
As part of its Ramadan program "Our Traditions Always Bring Us Together," Gulf Bank has distributed food packages to underprivileged families in Al-Jahra. This initiative was made possible through a
Kuwait Times
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia