HSBC wins advisory on $1bn Bahrain waste project

15 May 2008
HSBC has been awarded the financial advisory mandate on a $1bn waste incineration plant in Bahrain being developed by France’s Constructions Industrielles de la Mediterranee (CNIM).

CNIM, which specialises in industrial waste projects, mechanical engineering and energy, was recently awarded the contract to build the plant.

Funding for the project is expected to come mainly through debt, with about 80-90 per cent from project finance banks.

When developed, the plant is expected to incinerate all of Bahrain’s solid waste. The concession agreement is currently being negotiated, but the deal is expected to go out to the banking market later in 2008.

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