Cnim seeks debt finance for project
Bahrain’s Finance Ministry has selected French developer Cnim to install a waste-to-energy project under a build-operate-transfer (BOT) contract.
According to a source at the ministry, the project will incinerate 390,000 tonnes per year of domestic waste from Manama. The plant will have a generating capacity of 25MW, which will feed into the grid.
The project is intended for a site at Askar on the country’s east coast, although the exact location is yet to be determined.
Cnim plans to arrange debt finance for the facility in a project finance structure and is set to approach banks shortly.
The facility will start operating by 2013 and Cnim’s BOT contract runs for a period of 25 years.
The government is advised by the UK’s Mott MacDonald as technical consultant, the UK’s HSBC as financial adviser and UK-based law firm Freshfields Bruckhaus Deringer.
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