Financing for Disi conveyor to be in place by March

04 February 2009
Jordan’s $1bn Disi conveyor project is expected to reach financial close by the end of March, according to a source close to the scheme.

The majority of the $800m debt will be provided by multinational institutions. The major lenders include the US’ Overseas Private Investment Corporation, the European Investment Bank and France’s Proparco.

Turkey’s Gama Energy is the developer on the project which will be constructed under a 25-year build-operate-transfer contract.

The scheme involves building a 325-kilometre-long pipeline, which will carry 100 million cubic-metres-a-year of water from an aquifer in the Disi Mudawarra area in the south of the country to the capital Amman.

The client is the Water & Irrigation Ministry (MEED 7:3:09).

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