International law firm Chadbourne & Parke have advised Suez Environnement S.A.S., Infilco Degremont Inc, and The Morganti Group on the $225 million expansion of Jordan’s As-Samra Wastewater Treatment Plant, the only project financing to have taken place in the country this year.
The expansion of As-Samra Plant will be funded by the Millennium Challenge Corporation grant, a commercial bank facility provided by a syndicate of Jordanian banks led by Arab Bank, progress payments by the Government of Jordan following completion of certain milestones, and from equity to be contributed by the sponsors, Suez Environnement, Infilco Degremon, and The Morganti Group.
The Chadbourne team was led by the project finance partner Richard Keenan in Dubai, assisted by associates Yasser Yaqub and Marc Norman in Dubai, and Monika Szymanski in New York.
“We were delighted to have advised our clients Suez, Degremont and Morganti on this project," said Keenan. "This latest deal helps to reinforce Chadbourne's strong track record of successfully closing power and water deals in Jordan and the Middle East. The plant's expansion should also improve the health and quality of life of millions of people in Jordan.”
The existing plant which was completed in 2008 has almost reached its maximum hydraulic capacity, and will soon be unable to handle the demands on it. The expanded plant will improve the environmental and health conditions of more than 3 million people in Amman and Zarqa. Wastewater treated by the plant in accordance with international and Jordanian environmental standards and regulations, is released from the plant and channeled into a dam. Water from this dam is used to irrigate crops and pasture in an area which is vital to Jordan's agricultural production.
The plant's expansion is expected to start in August and is expected to take about 36 months until completion.
Shaheen Pasha is Middle East Regional Editor at ALB. Follow us on Twitter:@ALB_TheBrief.
Other related stories: