Norton Rose (Middle East) LLP have advised Constructions Industrielles De La Méditerranée (CNIM), a company registered in France, in relation to the construction and operation (on a BOOT basis) of a waste to energy plant and integrated waste management system in Bahrain. The project, which has now reached commercial close, has a projected capital expenditure of US$500 million and includes the operation of the plant for 25 years. Financial close is targeted for Q2 2011.
This is one of the first solid waste PPP deals to achieve commercial close in the Middle East. The project forms part of the Bahrain Government’s overall privatisation strategy and Economic Vision 2030.
Partner and head of infrastructure, Middle East, Jonathan Brufal, commented – “We are delighted to have reached commercial close on this innovative project in Bahrain. This deal shows our continued commitment to the key projects transactions in Bahrain and in the wider Middle East region.”
Freshfields Bruckhaus Deringer acted for the Ministry of Finance, Bahrain.
Related Posts:
- None Found