Bahrain's First Energy Bank (FEB) has announced that it has purchased 9% stake in the Al Dur Independent Water and Power Production project.

In a proclamation, the bank said that the acquirement of the equity stake entails an investment of 50 million Bahraini dinars (about USD 132.6 million). USD 2.2 billion Al Dur facility, situated on the southeast coast of Bahrain, is the major of its kind in the country.

The project is likely to generate 1,234 MW of power and 48 million gallons of water when it is fully functional in the summer of fiscal 2011.