By Edward Attwood
Invest AD part of consortium to build vital infrastructure in key Manama district
A consortium led by South Korea’s Samsung Engineering, Abu Dhabi’s Invest AD and a British firm has won a deal to build a new sewage treatment plant and wastewater network in Bahrain.
Based in Muharraq, the work will essentially involve taking over, upgrading and maintaining a key section of Bahrain’s wastewater network.
The utilities project – the first in the region to incorporate a wastewater collection component – is scheduled to be “mechanically complete” in 30 months time.
Samsung has provided 45 percent equity for the project, with Invest AD offering 35 percent.
Debt financing for the work has been carried out by the Export-Import Bank of Korea, Japan’s Sumitomo and two French banks.
The value of the deal has not been disclosed. The client is the Ministry of Finance and the Ministry of Works.