Wednesday 29 January 2020

Banks to provide $650 mln loan for #Kuwait wastewater plant - Reuters

Banks to provide $650 mln loan for Kuwait wastewater plant - Reuters:

A group of six local and international banks has agreed to provide a $650 million 26-year loan to finance the construction and operation of Kuwait’s Umm al-Hayman Company for Waste Water Treatment project, three of the lenders said in a joint statement.

The consortium of banks is led by Al Ahli Bank of Kuwait , Commercial Bank of Kuwait and KfW IPEX-Bank. It also includes DZ Bank, the Korea Development Bank and Siemens Bank.

Kuwait’s Ministry of Public Works signed a public-private partnership with the project company last week to develop the plant, the statement from the lenders said.

Umm al-Hayman Company for Waste Water Treatment is 40% owned by its developers WTE Wassertechnik GmbH and Kuwait’s International Financial Advisors, 10% by the Kuwait Investment Authority and 50% by Kuwait Authority for Partnership Projects (KAPP), the statement said.

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