Orascom Construction (ORAS) Consortium Achieves Swift Financial Close for Major Water Treatment Project in Abu Dhabi
A consortium led by Orascom Construction (ORAS) and Metito, in collaboration with Abu Dhabi National Oil Company PJSC (ADNOC) and Abu Dhabi National Energy Company PJSC (TAQA), has successfully attained rapid financial close for a large-scale seawater treatment and water transportation project in Abu Dhabi, UAE. The project encompasses a nanofiltration plant capable of treating over 110 million imperial gallons per day (500,000 m3/day), a 75km water transmission pipeline, and a distribution network spanning more than 230km to support reservoir pressure maintenance in the Bab and Bu Hasa fields. With a targeted completion date of June 2026, the project, valued at USD 2.2 billion, will be funded through a combination of debt and equity, with non-recourse project financing provided by prominent institutions such as Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Commercial Bank of Dubai, Emirates Development Bank, Emirates NBD Bank, First Abu Dhabi Bank, Gulf International Bank, Natixis, and Warba Bank.
MM Group For Industry And International Trade - MTIE to expand in Saudi Arabia
The BOD Approved the to establish a company in the Kingdom of Saudi Arabia to serve and expand the company's business activities with ownership 100%, The equity has not yet been determined and will be disclosed after incorporation.
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