A consortium including China's Harbin Electric and Saudi Arabia's ACWA Power aims to secure a loan of up to USD1.4 billion before the end of the second quarter to finance a 1,200 megawatt clean coal power plant in Dubai. The companies are in talks about the club loan with Chinese-state owned credit agency Export-Import Bank of China and lenders including Industrial and Commercial Bank of China , Bank of China, Standard Chartered , First Gulf Bank and Samba Financial Group. The plant is the first phase of the USD1.8 billion Hassyan clean coal project, which is being developed by Dubai Electricity and Water Authority (DEWA). One unit of 600 MW is due to begin operating by March 2020 and another a year later. (Reuters)