Bids have been submitted for the Egyptian PPP upgrade of the Abu Rawash Wastewater Treatment Facility.
Once selected, the preferred bidder will be responsible for the design, build, finance, operation and maintenance of the £650m project which plans to go through to financial close in September 2015. Located west of the river Nile running through Cairo, the project will have an estimated construction phase of 3 years and an operational phase of 22 years.
Current environmental conditions have demanded improvements to the facility whose primary objectives are to upgrade the level of treatment from primary to secondary sources for the whole capacity of the existing wastewater plant, whilst expanding the capacity of the Plant from 1.2m metres cubed per day to 1.6m metres.
Egypt’s Ministry of Housing, Utilities and Urban Development will act as the procuring authority for the project whilst the National Bank of Egypt (NBE) and the Commercial International Bank (CIB) are likely to be the senior lenders.
In support of the Kharafi National consortium, Operis were pleased to undertake an audit of their financial model for their bid, which included a review of the model’s tax and accounting.