Orascom Construction – Metito Consortium Achieves Financial Close for a Large-Scale Seawater Treatment and Water Transportation Project in Abu Dhabi Worth USD 2.2 Billion
Orascom Construction – Metito Consortium Achieves Financial Close for a Large-Scale Seawater Treatment and Water Transportation Project in Abu Dhabi Worth USD 2.2 Billion
September 28, 2023
Mega greenfield project will be developed under a build, own, operate, and transfer (BOOT) concession model with a tenor of 30 years
25 September 2023: A consortium of Orascom Construction and Metito, together with the Abu Dhabi National Oil Company PJSC (ADNOC) and Abu Dhabi National Energy Company PJSC (TAQA), has achieved the successful financial close in record time for a large-scale seawater treatment and water transportation project in the Emirate of Abu Dhabi, UAE.
The project will comprise a seawater nanofiltration plant with a treatment capacity of more than 110 million imperial gallons per day (500,000 m3/day) in addition to a water transmission pipeline of approximately 75km, and an in-field distribution network of more than 230km to support reservoir pressure maintenance in the Bab and Bu Hasa fields in Abu Dhabi.
This important milestone allows the project to move at full speed on the Engineering, Procurement, and Construction (EPC) level, with commercial operations scheduled for June 2026.
The investment to develop the project, worth USD 2.2 billion, is comprised of a combination of debt and equity. Non-recourse project financing will be provided by Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Commercial Bank of Dubai, Emirates Development Bank, Emirates NBD Bank, First Abu Dhabi Bank, Gulf International Bank, Natixis, and Warba Bank.