Japanese trading house Marubeni Corp has won the right to build one of the world’s largest independent power producer projects here, valued at $2.3 billion.

Marubeni will take a 40 percent stake in the thermal power plant. Qatar Electricity and Water Co. will also have a 40 percent stake, with Qatar Petroleum holding the remaining 20 percent, Marubeni said.

The Japanese trading firm said it will complete construction of the plant by April 2010 and will manage it for 25 years.

Marubeni said the plant, which will produce 2,000 megawatts (2 million kilowatts), is one of the world’s biggest independent power producer (IPP) projects, a private generator that sells power to utility companies.

The Middle East is a major business area for Marubeni, besides Asia and overseas IPPs are one of the focuses of its business, according to the company.

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