Three bidding groups are competing for the advisory mandate. A team led by Societe Generaleand including Germany's Fichtner, Denton Wilde Sapteand BankMuscatis the low bidder at RO 803,332 ($2.1 million) for the contract. It is followed by a group headed by ABN Amroand including the UK's PB Powerand Shearman & Sterlingat RO 1.6 million ($4.2 million). The third bidder is HSBCwith the UK's Mott MacDonaldand Allen & Overyat RO 2.3 million ($6 million).

The client is looking to issue the request for proposals in June. While the project is described as an IWPP, there is a possibility that it may be implemented on an engineering, procurement and construction (EPC) basis. 'People want to keep their options open at the moment,' says an industry source. 'Given the declining number of international developers interested in taking on new assets, the approach makes sense.'