Global menu

Our global pages

Close

Eversheds Sutherland, together with AlDhabaan & Partners in association with Eversheds Sutherland (International) LLP, advises lenders on three major independent sewage treatment plant projects in Saudi Arabia

  • UAE
  • Saudi Arabia
  • Middle East

    08-03-2022

    Eversheds Sutherland, together with AlDhabaan & Partners in association with Eversheds Sutherland (International) LLP, has advised several leading banks – Abu Dhabi Islamic Bank, Alinma Bank, Riyad Bank, Siemens Bank and MUFG Bank, Ltd. – on the US$700m financing of three major independent sewage treatment plant projects in Saudi Arabia.

    The Madinah 3, Buraydah 2 and Tabuk 2 projects are being undertaken by a consortium comprising Acciona Agua S.A, Tamasuk Holding Company and International Water Distribution Company (Tawzea).

    The Projects, procured by Saudi Water Partnership Company on a PPP basis as part of the Kingdom’s 2030 vision, will be developed on a long-term build, own, operate and transfer (BOOT) basis. The Madinah 3 (375,000m3 per day), Buraydah 2 (150,000m3 per day) and Tabuk 2 (90,000m3) projects, all attained Green Loan status, which is a first for ISTPs in the Kingdom.

    Eversheds Sutherland advised on the full lifecycle of the transaction from bid submission through to successful financial close. The Eversheds Sutherland team was led by Partner and Head of Projects – Middle East, Ashley Halewood, who was supported by Senior Associate, Benjamin Clark, and Associate, Leith Gouta. The AlDhabaan & Partners in association with Eversheds Sutherland (International) LLP team was led by Partner, Anmar Al Gharifi and Senior Associate, Sikander Nafees Siddiqui.

    Ashley Halewood, commented: “We are pleased to have supported the lenders on the successful financial close of these strategic PPP projects. Achieving simultaneous financial close on three major infrastructure projects demonstrates the strength of our team and its ability to support clients on the most demanding and complex transactions in the Kingdom.”

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

    < Go back