Dubai -- Chadbourne & Parke LLC advised a sponsor consortium consisting of SUEZ, ITOCHU Corporation, Engie Energy International and W.J. Towell & Co. LLC, on the development and financing of the US$300 million Barka IWP in Oman.
The project reached financial close on April 21, 2016 and was implemented on a build-own-operate basis pursuant to the terms of a water purchase agreement with the Oman Power and Water Procurement Company. The plant, with a capacity of 281,000 m³ per day (61.8 MIGD) of potable water output, is expected to be operational in April 2018.
"We are delighted to have advised the sponsors in connection with the development and financing of the Barka IWP," said Mr. Richard Keenan, a partner Chadbourne's Dubai office and the lead of the Chadbourne team. "The plant will provide a much needed increase of potable water in the region."
The demand for potable water in Oman's northern region is projected to grow by six per cent per year, according to a seven-year outlook for power and water demand released by Oman Power and Water Procurement Company last year.
The Chadbourne team was led by partners Richard Keenan and Derek Kirton, and included counsel Monika Szymanski and associates Marc Norman and Helen Qian.
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For more than a century, Chadbourne & Parke has counseled innovators around the world. We are a full-service law firm that leverages the extraordinary talent from our 10 offices to offer the highest caliber client service in more than 80 countries on six continents. Today, we are recognized internationally for our groundbreaking work in emerging economies and our deep experience in energy and infrastructure, corporate and finance transactions, international disputes, and bankruptcy and financial restructuring.
© Press Release 2016
