The Mafraq Motorway Group (MMG) submitted its bid for the Mafraq-Ghweifat Highway PPP Project on 24 December, 2009. The project involves the upgrade and widening of the 327km highway between Mafraq, close to Abu Dhabi in the United Arab Emirates, and Ghweifat, on the border with Saudi Arabia.
The MMG consortium comprises Strabag, J&P-AVAX S.A, Joannou & Paraskevaides, Egis, and Saif Bin Darwish. There are two other consortia bidding for this 25 year concession. The project is being procured by the Abu Dhabi Department of Transport, who are aiming to achieve financial close on 1 July, 2010.
Calyon is the financial advisor to MMG, and produced the financial model which Operis audited. If the consortium is successful, Operis will carry out further due diligence on the model at financial close.
