In early 1996, the Privatization Committee for
the Water & Electricity Sector (PCWES) was
formed. In addition to restructuring the industry,
the Privatization of the Water & Electricity
Sector of Abu Dhabi was to accomplish the following
principle goals and objectives:
- To
provide secure, safe, and reliable supplies
of water and electricity;
- To
recover lost economic efficiencies;
- To
improve customer services and reduce costs
to consumers;
- To
encourage private sector investment;
- To
develop employment opportunities for UAE nationals;
and
- To
maximize returns from the sale of existing
government owned assets.
The
Privatization Committee’s activities involved
the extensive use of consultants to prepare
recommendations for the restructuring of the
existing sector, formulate plans for the implementation
of the privatization activities, and recommend
legislation to accomplish the legal aspects
of the privatization of the sector.
Following
nearly two years of effort by the Privatization
Committee, the Government of the Emirate of
Abu Dhabi approved legislation (Law No. 2 of
1998), establishing the Abu Dhabi Water &
Electricity Authority (ADWEA). By virtue of
an Emiri Decree issued at the same time, the
Board of Management of ADWEA was formed under
the chairmanship of H.H. Sheikh Diab bin Zayed
Al Nahyan.
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