Chadbourne advises consortium on million dollar water project

Chadbourne & Parke LLC advised a sponsor consortium consisting of SUEZ, ITOCHUCorporation, Engie Energy International and W.J. Towell & Co. LLC, on the development and financing of the USD300 million Barka IWP in Oman.

The project reached financial close on April 21, 2016 and was implemented on a build-own-operate basis pursuant to the terms of a water purchase agreement with the Oman Power and Water Procurement Company. The plant, with a capacity of 281,000 m³ per day (61.8 MIGD) of potable water output, is expected to be operational in April 2018.

The demand for potable water in Oman’s northern region is projected to grow by six per cent per year, according to a seven-year outlook for power and water demand released by Oman Power and Water Procurement Company last year.

The Chadbourne team was led by partners Richard Keenan and Derek Kirton, and included counsel Monika Szymanski and associates Marc Norman and Helen Qian.