|
contents | business | |||||||||
| Orasqualia awarded African PPP Water Deal 2010 Egyptian construction firm Orascom Construction Industries (OCI) announced that its 50/50 joint venture with Spanish group Aqualia (Orasqualia) has been awarded "African PPP Water Deal of the Year 2010" by Euromoney's Project Finance Magazine. The award recognizes innovation, best practice, problem solving, risk minimization and the economic value of infrastructure financings all over the world. Orasqualia was also awarded the "Water Deal of the Year" by Global Water Intelligence in May 2010. The waste water plant is Egypt's first PPP concession 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 acted as legal counsel for Orasqualia on this loan facility and Zulficar & Partners for the project lenders. write your comments about the article :: © 2011 Construction News :: home page |