Chadbourne & Parke LLC advised a sponsor consortium consisting of SUEZ, ITOCHU Corporation, Engie Energy International and W.J. Towell & Co. LLC on the development and financing of the US$300 million Barka Independent Water Project (IWP) in Oman.
The project reached financial close on April 21, 2016 and was implemented on a build-own-operate basis pursuant to the terms of a water purchase agreement with the Oman Power and Water Procurement Company. The plant, with a capacity of 281,000 m³ per day (61.8 MIGD) of potable water output, is expected to be operational in April 2018.
“We are delighted to have advised the sponsors in connection with the development and financing of the Barka IWP,” said Richard Keenan, a partner in Chadbourne’s Dubai office who led the Chadbourne team. “The plant will provide a much needed increase of potable water in the region.”
The demand for potable water in Oman’s northern region is projected to grow by six percent per year, according to a seven-year outlook for power and water demand released by Oman Power and Water Procurement Company last year.
The Chadbourne team was led by partners Richard Keenan and Derek Kirton, and included counsel Monika Szymanski and associates Marc Norman and Helen Qian.
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