Hogan Lovells has advised JGC Corporation, United Infrastructure Development Company (part of Bahwan Engineering Group) and Doosan Heavy Industries & Construction, the successful bidder, on the Sharqiyah Independent Water Project (“IWP”) in the Sultanate of Oman.
The Sharqiyah IWP is a reverse osmosis seawater desalination plant that will sell approximately 80,000m3 of desalinated water per day for 20 years to the Oman Power and Water Procurement Co. SAOC (“OPWP”) – the single buyer of power and water for all independent power and water projects within Oman.
This is the first project of its kind in the Middle East, as the desalination plant will be developed in conjunction with a dedicated solar photovoltaic facility, which will contribute power to the desalination process.
MUFG Bank, Ltd., Sumitomo Mitsui Trust Bank, Limited and Shinsei Bank, Limited financed the 20 billion Yen (approximately $175,000,000) project. Nippon Export and Investment Insurance (“NEXI”) provided the loan insurance – the first time they have provided insurance for a seawater desalination plant project in Oman, aligning themselves with the Japanese government’s policy to strengthen its support for developing the water and renewable energy business overseas.
The Hogan Lovells team was led by Dubai-based projects partner Sohail Barkatali (Picture), with support from Rahail Ali (Partner, Dubai) and Tony Nicholson (Associate, Dubai),as well as lawyers from Hogan Lovells offices in Singapore, Australia and London.
Law Firms: Hogan Lovells;