Phoenix Power Company, a special purpose company of which Marubeni, Chubu Electric, Qatar Electricity and Water Company (QEWC) and Multitech are the shareholders, have entered into various agreements, including a Power Purchase Agreement (PPA) in connection with the Sur independent power project, located 150 km south east from Muscat on the coast of the Gulf of Oman. The project includes the design, construction, ownership, financing, operation and maintenance of a 2,000 MW gas-fired power generation facility. Oman Power and Water Procurement Company signed contract to purchase power from the Project under a 15 year PPA from which a long stable income is expected for the shareholders. The project is the first independent power project in Oman for both Marubeni and Chubu. QEWC, of which the Qatari government has more than 40% shares, also participates in the project as a partner. Commissioning is scheduled in 2014.