The Consortium led by Metito Utilities Limited with Mowah CJSC and Orascom Construction have signed the Sewage Treatment Agreement with Water & Electricity Company (“WEC”) to develop, finance, operate and transfer Independent Sewage Treatment Plant (“ISTP”) at Dammam. The project will have an initial capacity of 200,000 m3/day, expandable to 350,000 m3/day and WEC shall be the sole Offtaker of the Project. The Project is the first ISTP, which has been awarded on a Public Private Partnership (“PPP”) basis in the Kingdom of Saudi Arabia and is aligned to the overall Saudi Vision 2030. Metito (Overseas) Limited and Orascom Construction are the EPC Contractor for the Project.
Synergy Consulting is the transaction advisor to the Consortium and is leading the financing process. Synergy Consulting along with Covington & Burling, the Legal Advisor to the Consortium, supported the Consortium in bid preparation and negotiation with the Offtaker.