StockNews - SembCorp looks set to clinch mega deal in UAE

A team from SembCorp Utilities have gone on to United Arab Emirates to discuss the bid for a project involving the building of a water desalination plant that would have a capacity of around 100 million gallons per day (roughly around 1/3 of Singapore's capacity). Such a project will most likely add international recognition to SembCorp on top of the financial revenues it will reap. SembCorp emerged as the highest bidder in the project with a bid price of more than S$1.3 billion. As a result it has been picked as one of the 2 front-runners in this project which also involves a purchase of 40% of stake in an UAE power plant.