Dubai’s Dewa receives lowest bid from UK law firm
Dubai Electricity & Water Authority (Dewa) has received a total of 14 bids to provide advisory services on its first independent water and power project (IWPP).
Bids were received from the following companies/groups:
- BNP Paribas (France)
- Berwin Leighton Paisner (UK)/Scott Wilson (UK)
- Citibank (US)/Clifford Chance (UK)/Fichtner (Germany)
- Consulting Engineering Company (CEC) (Egypt)
- Deutsche Bank (Germany)/Ashurst (UK)/Poyry (Finland)
- Ernst & Young (UK)
- HSBC (UK)
- KPMG (UK)/Worley Parsons (Australia)/DLA Piper (UK)
- Lane Clark & Peacock (UK)
- Latham & Watkins (US)
- Mashreq Bank (UAE)
- McKinsey & Company (US)
- PA Consulting (UK)
- PricewaterhouseCoopers (PWC) (UK)
Each bid fell between AED9m-20m ($2.4m-5.4m). UK law firm Lane Clark & Peacock entered the lowest bid but the offer excludes technical and financial advisory services.
The call for advisers follows Dewa’s decision to cancel its plans to develop the Hassyan power and water project through direct funding in December 2009 (MEED 9:3:10).
Once advisers are appointed, they will help Dewa find funding for the project.
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