Kuwait to seek bank loan for wastewater project

$1.6 billion wastewater treatment project to be set up in Umm Al-Hayman

  
Image used for illustrative purpose. water treatment plant.

Image used for illustrative purpose. water treatment plant.

Getty Images

18 December 2019

Kuwait is planning to borrow from banks to fund a $1.6 billion wastewater treatment project in Umm Al-Hayman on the Eastern flank of the Gulf emirate, newspapers in the OPEC member reported on Wednesday.

Loan agreements will be signed with a number of banks shortly and the project will be completed within 42 months, they said, quoting Bakhit Al-Rasheedi, chairman of the newly-created Umm Al-Hayman Wastewater Treatment Company.

Alseyassah and other local papers quoted Rasheedi as saying 50% of the project would be sold to the public after it is completed.

He said the plant has a capacity of 500,000 cubic metres (m3) per year, which is expandable to 700,000 m3.

The Kuwait Authority for Partnership Projects, which is in charge of promoting joint public-private ventures, announced in late 2018 it has awarded Umm Al-Hayman contract to a German-Kuwaiti consortium comprising International Financial Advisors and WTE Wassertechnik GmbH Group.

The project consists of the construction of a new sewage treatment plant within the boundaries of the current Umm Al-Hayman purification plant located 50 kilometres south of the capital Kuwait City.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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