Ministry seeks $470m for public-private-partnership scheme
Financing for the New Cairo wastewater project in Egypt will be completed by the end of 2009, according to sources close to the project.
The project will cost about $470m to develop. A consortium of Egypt’s Orascom Construction and Spain’s Aqualia was awarded the contract in May.
“The deal is on track to be completed by the end of the year,” says a banker close to the scheme.
The project is Cairo’s first public-private-partnership in the wastewater sector and is being led by the Housing, Utilities & Urban Development Ministry.
The New Cairo wastewater plant, to be developed on a build-operate-transfer basis, will have capacity of 250,000 cubic metres a day (cm/d) of wastewater and a 20-year concession. The development of the project will take 2 years and should also begin before the end of 2009.
The IFC is acting as an adviser to the Egyptian government.
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