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Abu Dhabi Fund for Development (ADFD) and the Abu Dhabi Exports Office (ADEX) have signed two loan agreements worth 337.9 UAE dirhams ($92 million) with Bahrain’s Electricity and Water Authority (EWA) to finance a water supply network project, a press statement by ADFD said.
Under the agreements, ADFD has committed to provide a loan of 150.6 million dirhams ($41 million), while ADEX will provide a loan of 187.32 million dirhams ($51 million), the statement noted.
The project, according to the statement, aims to enhance the capacity of the water transmission networks within the second phase of Al Dour station to 50 million gallons to ensure three days of drinking water reserves. Additionally, the station will also serve construction, investment and industrial projects.
The second phase scope includes two tanks, each with a capacity of 20 million gallons, in addition to civil, mechanical and electrical works, and communication and control systems
The press statement added that ADEX will provide credit lines and financing solutions to two UAE-based companies involved in the project: Tecton Engineering and Construction, which will undertake the construction of the second Al Dour pumping station, and Jindal SAW Gulf, which will supply the pipes.
ADFD has provided to date 23.12 billion dirhams ($6.2 billion) in soft loans and government grants to Bahrain covering 32 projects in vital sectors.
(Writing by SA Kader; Editing by Anoop Menon)
