The mandated lead arrangers are Calyon, Natixis, KBC and Mizuho. Calyon is the financial adviser.

Veolia and Besix were awarded the $500m build-own-operate contract for the two plants in July.

The plants in Al-Ain and Abu Dhabi will be developed under a 25-year concession, with a construction period of two-and-a-half years. Construction is due to be completed in 2011.

The Abu Dhabi plant will have capacity of 300,000 cubic metres a day (cm/d) and the Al-Ain facility will have capacity of 130,000 cm/d.

Abu Dhabi Sewerage Services Company is the client (MEED 30:7:08).