Eversheds assists Kahramaa

Eversheds has worked with Qatar General Electricity and Water Corporation (Kahramaa) on a 25-year water supply deal with Qatar Electricity & Water Company (QEWC) worth 500 million USD which reached financial close in Doha on 9 December 2013.

The financial close which follows the signature earlier this year of by Kahramaa and QEWC of a 25-year Water Purchase Agreement (also with the legal support of Eversheds) is the final stage of completing the funding of the project. The funders are entirely Qatari banks – the first time an IWP project in Qatar has been funded entirely by domestic lenders.

The project will enable Kahramaa to meet the Water Grid requirements of 2015. The 36 MIGD (million imperial gallons per day) plant will deliver first water in June 2015. Kahramaa will purchase the entire production.  QEWC signed an EPC contract with a consortium of Mitsubishi Corporation and Toyo Thai Public Company for the construction of the plant earlier this year.    

The Eversheds team, led by partner Tim Armsby and Jennifer Westall, advised the client on the tender for its water capacity expansion project as well as the negotiation of the Water Purchase Agreement and related agreements for this plant.