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Qatar cancels plans for power plants in Syria

Qatar Electricity & Water Co (QEWC) announced that it has cancelled plans to build two power plants in Syria.

"Only a memorandum of understanding was signed. We had not entered into any (formal) agreement," a company spokesman was quoted as saying by Zawya Dow Jones .

Recent unrest in Syria has seen the country racked by weeks of pro-democracy protests and resulted in investor unrest.

Last year QEWC and Syrian-Qatar Holding, set up by the two countries with US$5 billion in capital, would develop two 450 MW gas-fired power plants in Syria in a project valued at US$1 billion.

The project would have seen the construction of power plants in the northeastern town of Swedeih and the industrial area of Adra, close to Damascus.

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