Ajman wastewater concession update
- From: Vol 3, Issue 7 (July 2002)
- Category: General
- Region: Middle East
- Country: United Arab Emirates
- Related Companies: Black & Veatch, Denton Wilde Sapte, Mizuho Corporate Bank, Thames Water and WestLB
There is still no word on the consortium of lenders who will provide the necessary debt finance for the Ajman wastewater concession. Project sponsors Thames Water and Black & Veatch had hoped to make an announcement at the end of June with a view to achieving financial close in August.
The sponsors are thought to be discussing the deal with a number of local banks although it is not clear which are likely to come in. Banks are being asked to find between $70 and $75 million of limited recourse financing to make up the $100 million which will be used up in the first four years of the contract ...
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