Jordan water PPP reaches close
Expansion of the As-Samra Plant will be funded by a $75m US-backed Millennium Challenge Corporation grant, a commercial bank facility provided by a syndicate of Jordanian banks, progress payments by the Government of Jordan and $15m equity contributed by sponsors Suez Environnement, Infilco Degremont and the Morganti Group.
The consortium will build, operate and maintain the plant through a build, operate and transfer concession over a 25-year term.
The bank syndicate provided $141m in a 20-year loan from a nine-bank local consortium, led by Arab Bank. The other banks involved were Jordan Kuwait Bank, Capital Bank, Société Générale de Banque - Jordanie, Investbank, Social Security Investment Fund, Bank of Jordan, Arab Jordan Investment Bank and Bank al Etihad.
The project will allow the plant's capacity to be increased from 267,000 to 365,000 cubic metres per day, serving an estimated population of 3.5 million inhabitants, almost 35% of the Jordan population. It will become the country's largest operating wastewater treatment plant.
