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NORTON Rose (Middle East), in partnership with HSBC and Fichtner, have advised the Ministry of Finance, in relation to the design, build, finance and operation of a wastewater treatment plant and conveyance system in Muharraq, Bahrain.
The project which has now reached commercial close has a projected capital expenditure of $250 million and includes the operation of the plant for a 27-year period. Financial close is targeted for Q2 2011.
The project is the first wastewater treatment plant procured by the Government of Bahrain on a PPP basis. Norton Rose has also advised the Ministry of Finance in relation to the preparation of a National Privatisation Strategy Plan for the Sanitary Engineering Affairs Department of the Ministry of Works as part of Bahrain's overall privatisation strategy and Economic Vision 2030.
Partner and head of infrastructure, Middle East, Jonathan Brufal, said: "The closure of this innovative project in Bahrain marks another significant step in the Bahrain PPP programme and the wastewater sector in the MENA region. We are delighted to continue to be involved in the delivery of key infrastructure projects in Bahrain and to be part of the exciting Bahrain Economic Vision 2030."
Joanne Emerson-Taqi, who project-managed the Norton Rose team, said: "This project represented an unprecedented opportunity for private sector participation in Bahrain's wastewater sector and provides a benchmark for future PPP projects in this sector."
