Dubai PR Network, Online Press Release from Dubai and Middle East
 
Infrastracture, Construction & Manufacturing(Real Estate & Retail)
Filter PR by
  
Hogan Lovells Advises on the Sharqiyah IWP Project in the Middle East
 

DUBAI, 25th November 2018 –   Hogan Lovells has advised JGC Corporation, United Infrastructure Development Company (part of Bahwan Engineering Group) and Doosan Heavy Industries & Construction, the successful bidder, on the Sharqiyah Independent Water Project ('IWP') in the Sultanate of Oman. Financial close was achieved on the 5th of November, 2018. 

The Sharqiyah IWP is a reverse osmosis seawater desalination plant that will sell approximately 80,000m3 of desalinated water per day for 20 years to the Oman Power and Water Procurement Co. SAOC ('OPWP') – the single buyer of power and water for all independent power and water projects within Oman. 

This is the first project of its kind in the Middle East, as the desalination plant will be developed in conjunction with a dedicated solar photovoltaic facility, which will contribute power to the desalination process. 

The Sponsors commented: 
'The selection of this consortium as the successful bidder is the result of positive evaluation by OPWP of the ability of this group to apply unique engineering knowledge to provide innovative ideas that enable the reduction of energy required to operate and to keep the unit cost of the water low.'

MUFG Bank, Ltd., Sumitomo Mitsui Trust Bank, Limited and Shinsei Bank, Limited financed the 20 billion Yen (approximatelyUS$175,000,000) project. Nippon Export and Investment Insurance ('NEXI') provided the loan insurance – the first time they have provided insurance for a seawater desalination plant project in Oman, aligning themselves with the Japanese government's policy to strengthen its support for developing the water and renewable energy business overseas. 

The Hogan Lovells team was led by Dubai-based projects partner Sohail Barkatali, with support from Rahail Ali (Partner, Dubai) and Tony Nicholson (Associate, Dubai),as well as lawyers from Hogan Lovells offices in Singapore, Australia and London. 

Commenting on the project, Sohail Barkatali, said:
'We are excited to be part of the first project in the region combining the desalination process with renewable energy and setting a model for similar projects in the future. We expect that this will be the first of many of its kind in the Middle East given environmental and economic benefits.”
Rahail Ali said:

'Oman is a key jurisdiction for Hogan Lovells. We have advised on numerous water and power projects in the Sultanate, including two IWPs in the last two years, which reached financial close. Our projects and energy team are dedicated to providing our clients with first-rate legal advice, not only in Oman, but across the wider Middle East region.' 

 


Posted by : Dubai PR Network Editorial Team
Viewed 9986 times
PR Category : Real Estate & Retail
Posted on : Sunday, November 25, 2018  10:48:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Emirates Steel showcases construction and building products ...
Next Story : The Big 5 International Building & Construction Show
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
HONOR MagicBook Series is Perfect for Fashion Forward, Design Conscious Individuals Across... [4432-Views]
Vatika Launches Natural Hair Food, an Effective Solution for Dry Hair [3067-Views]
Omega Announces Its Role as the Official Timekeeper of the 36th America's Cup [3042-Views]
Foreo Reveals 5 Ways to De-Stress Your Skin [2923-Views]
DTTAG New Executive Committee to Manage Post Covid 19 Return to Normalcy of Travel [2882-Views]
The Best Omega Sunglasses For a Long-Awaited Summer [2767-Views]
Emirates Post Unveils Modern New Website and Look [2530-Views]
Ethical JLT Salon THT is Supporting those whose Jobs have been affected during COVID-19 w... [2427-Views]
FEM Collaborates with Arab Comedian Maya Acra to Address the Taboo Around the Topic of Hai... [2403-Views]
Karl Lagereld Drives Digital Innovation With Launch of the “Maison Karl Lagerfeld” Game. [2329-Views]
Innovating to Fight COVID-19: Four Ways Drones are Contributing [2292-Views]
Urgent Implementation of ICAO COVID-19 Guidelines Needed [2271-Views]
Blue Ocean for Islamic Finance Industry [2251-Views]
Sony Middle East & Africa Introduces New Digital Camera ZV-1, designed for Vlogging in the... [2206-Views]
Commodity Weekly: Crude Oil Frets Geopolitics, Sluggish Demand Bounce [2148-Views]
Ericsson's USA 5G Factory: Staffed by Professionals – Trained by VR [2087-Views]
Airline Debt to Balloon by 28% [2050-Views]
Al Tayer Motors and Premier Motors Honour UAE's COVID-19 Frontline Heroes [1906-Views]
Sony Middle East and Africa and Gearbox team up to offer rental services of latest digital... [1857-Views]
80th Anniversary of Maserati's Targa Florio Victory Maserati Tests an Mc20 Prototype on th... [1845-Views]
Parmigiani Fleurier Toric Fleur [1833-Views]
Twentieth “World Milk Day” Sees NFPC Innovate With New Products That Meet Changing Consume... [1812-Views]
Tips for Keeping Your Smartphone Clean [1783-Views]
WTTC Launches Safe Travels Protocols for Aviation, Airports, MICE and Tour Operators [1759-Views]
ATM Virtual to Focus on Potential Chinese Outbound Travel Market [1738-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories