Wastewater treatment plant achieves commercial Close in Bahrain
Date
February 13, 2011
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Project
The project is the first wastewater treatment plant procured by the Government of Bahrain on a PPP basis.
Samsung Engineering of Korea in consortium with United Utilities International from the UK and Invest AD from Abu Dhabi were selected as preferred bidder from a field of six international bidders and awarded the contract to build, own and operate a new 100,000 m3/day Sewage Treatment Plant and a 15km deep gravity sewer conveyance system in Muharraq under a 27 year Sewage Treatment Agreement (STA).
"This is a consortium that brings together top infrastructure expertise and finance partners from the Middle East, Europe and Asia," said Nazem Fawwaz al Kudsi, Chief Executive Officer of Abu Dhabi financial services company Invest AD
Total project costs for the project is projected at USD325 million and the plant is expected to commence commercial operations in August 2013, serving for growing demand for wastewater treatment capacity and will deliver high quality Treated Sewage Effluent (TSE) for reuse in the country.
Finance
All three partners in the consortium are providing equity for the project, with Samsung committing 45%, Invest AD 35% and United Utilities 20%. Developed over three and a half years, the project is being debt financed by the Export-Import Bank of Korea (KEXIM), Japanese lender Sumitomo Mitsui (SMBC), and French banks Natixis and Crédit Agricole.AdvisorsNorton Rose (Middle East) LLP, in partnership with HSBC and Fichtner, has advised the Ministry of Finance, Bahrain in relation to the design, build, finance and operation of a wastewater treatment plant and conveyance system in Muharraq, Bahrain.
Sources:
- Zawya
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