Synergy Consulting, an independent international financial advisory services company, has announced that it is playing a vital role as financial advisor to a consortium comprising Etihad Water and Electricity (EtihadWE), Taqa Water Solutions and Saur International for the development of the Rakwa Independent Sewage Treatment Plant (ISTP) Project in Ras Al Khaimah.

The consortium has entered into a long-term sewage treatment agreement (STA) with the Public Services Department Ras Al Khaimah (PSD) for the implementation of the project, which will be delivered under a Build-Own-Operate-Transfer (BOOT) framework. 

The Rakwa ISTP Project marks the emirate’s first large-scale wastewater treatment project developed through a public-private partnership (PPP) model.

With a planned treatment capacity of 60,000 cu m/day, the  ISTP facility is expected to significantly enhance wastewater treatment capabilities in Ras Al Khaimah and support a potential population of 300,000 residents. 

The project will also play a key role in facilitating ongoing and future urban and industrial development across the emirate, it added.

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