BankMuscat to advise on Aqaba water project

18 August 2008
Oman’s BankMuscat has been awarded a mandate to advise Jordan’s state-owned Aqaba Water Company (AWC) on the development of an independent water project (IWP) in Jordan.

BankMuscat will work with technical adviser Mott MacDonald and legal adviser Allen & Overy on structuring the project and managing the bid process for the development of the plant.

Sulaiman bin Mohamed al-Yahyai, director at BankMuscat, says the deal represents an opportunity for the bank to enter the Jordanian market for the first time.

The project involves the construction of a plant with capacity of 10 million cubic metres of water a day.

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