Operis acted as model auditors for the Ras Abu Fontas water project, which successfully reached financial close in March 2008.
This project involves the construction of a water desalination plant in Qatar, which is capable of producing a daily water supply of 45 million gallons of water. The current demand is only just met by the existing water supply network, and the development of this plant is intended to meet the anticipated increase in demand caused by the surging real estate and industrial sectors in Qatar.
The project was funded by several international banks, including the Qatar Islamic Bank (QIB), Gulf International Bank, Doha Bank, Standard Chartered, Royal Bank of Scotland and Bank of Tokyo Mitsubishi.
Construction of the project is slated to start in May 2007 and the plant is scheduled to begin operations in July 2009.