Hyflux secures financing for Mactaa
- From: Vol 10, Issue 4 (April 2009)
- Category: General
- Region: Middle East
- Country: Algeria
- Related Companies: Algerian Energy Company , Arab Banking Corporation, Banque Nationale d’Algérie, BNP Paribas, Calyon and Hyflux
The financing is now in place for the world’s largest membrane desalination plant. The Algerian government has broken with tradition to take a majority stake in the project company.
The $468 million Mactaa desalination project in Algeria successfully reached financial close on 18 March. The debt-equity split will be 70:30, with Banque Nationale d’Algérie (BNA) providing 100% of the debt through a $350 million loan bearing a fixed interest rate of 3.75%. The term of the facility – which will remain unsyndicated – is 17.3 years ...
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