Bank agrees financing for Qatar mega reservoirs contract

25 June 2015

Local lender will finance major construction package

  • Al-Khaliji Commercial Bank will provide financing for package C
  • CCC and Teyseer are building Al-Thumama reservoir
  • Mega reservoirs programme is being developed at a cost of $3bn

Qatar’s Al-Khalij Commercial Bank has agreed to provide financing to a joint venture of Athens-based Consolidated Contractors Company (CCC) and the local Teyseer Contracting for a package on the estimated $3bn Water Security Mega Reservoirs project.

The financing will cover the construction of package C at Al-Thumama. The CCC/Teyseer joint venture has also been awarded the contract to build package A of the reservoir programme.

In March, Qatar General Electricity & Water Corporation (Kahramaa) selected four firms for the five main construction packages on the reservoirs project.

The selected contractors and packages are:

  • Consolidated Contractors Company / Teyseer (local) – packages A and C
  • Habtoor Leighton Group (UAE / Australia) – package D
  • HBK Contracting (local) – package B
  • China Gezhouba / Burhan International Contracting (Kuwait) – package E

The Water Security Mega Reservoirs scheme has been designed to provide seven days of strategic water storage within its network, which will shore up the country’s reserve water supplies to protect against any future disruptions in supply.

Each reservoir site will contain up to 10 reservoir modules, which could be the largest of their type in the world. The reservoirs and pipeline network, with associated pumping stations, are planned to store up to 15 million cubic metres of potable water. The project is set for completion in 2019.

The scheme will connect the desalination plants at Ras Laffan and Ras Abu Fontas, which will skirt the west side of Doha. The pipeline will also connect to five reservoirs on the outskirts of the capital, which will be linked by about 200km of large-diameter pipeline.

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