Desalination plant achieves financial closure in UAE – UAE The $800 million project is funded on a debt to equity ratio of up to 85/15. A syndicate of seven international and local lenders will provide the $680 million senior debt. The Water Purchase Agreement with off-taker, FEWA, is signed for a 35-year term, and the plant is expected to be commercially operational by July 2022. According to a company statement, the mandated lead entities including Korea Development Bank, MUFG Bank, Siemens Bank, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, First Abu Dhabi [âŠ] Desalination plant achieves financial closure in UAE – UAEHIWI042019-11-18T12:26:13+01:00