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 [
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