Feb 6 2010
Orascom Construction Industries (OCI) confirmed today that its 50/50 joint venture with Spanish group Aqualia (Orasqualia) has signed both the facility and direct agreements for the New Cairo Waste Water Treatment Plant with the project lenders, the New Urban Communities Authority and the Public Private Partnership (PPP) Central Unit at the Egyptian Ministry of Finance.
On 28 June 2009, Orasqualia was awarded Egypt’s first PPP concession for the construction and operation of the New Cairo Waste Water Treatment Plant. The 20-year concession was tendered by the Egyptian Ministry of Housing, Utilities & Urban Development in coordination with the Ministry of Finance. The wastewater treatment plant will have a capacity of 250,000 m3 per day and will serve over one million people. The overall contract value during the concession period is EGP 2.646 billion and includes the Engineering, Procurement and Construction (EPC) of the plant and the Operations and Maintenance (O&M).
Participant banks in the loan facility include National Société Générale Bank (NSGB) SAE, Commercial International Bank (CIB) Egypt SAE, Arab African International Bank SAE and Ahli United Bank Egypt SAE. NSGB is acting as the facility agent and CIB is the security agent and technical bank.
Baker and McKenzie is acting legal counsel for Orasqualia on this loan facility and Zulficar & Partners for the project lenders.
Source: http://www.orascomci.com/