British water engineering company Biwater said it has been awarded a 1.2 billion contract by the Kurdistan Regional Government (KRG) in northern Iraq to deliver urgent water infrastructure works…
British water engineering company Biwater said it has been awarded a $1.2 billion contract by the autonomous Kurdistan Regional Government (KRG) in northern Iraq to deliver urgent water infrastructure works in the country.
As per the deal, Biwater will deliver water and wastewater treatment solutions for the cities of Erbil and Sulaimani in the Kurdistan region to help meet the vital water supply and sanitation needs of the residents.
Works will alleviate the current strain on existing infrastructure and reduce the region’s reliance on dwindling groundwater reserves to deliver long-lasting environmental benefits.
On the win, Sir Adrian White, CBE, the chairman of Biwater, said: "Since the company was founded in 1968, we have delivered many large international water projects across the globe, including strategic turnkey solutions throughout the Middle East."
"The signing of this contract in the Kurdistan region is a major landmark in providing technological and financial solutions that address complex water-related challenges in the region," stated White at the signing ceremony held in the presence of deputy chairman Alastair White in London.
As part of this project, Erbil will be provided with a 600,000 cu m per day state-of-the-art water treatment plant, while Sulaimani will benefit from water treatment plant upgrades and the construction of cutting-edge wastewater treatment works and sludge treatment facilities.
The London-based event was arranged to mark the signing of a loan to fund the project’s Development Works, which will include all relevant site surveys, social and environmental impact assessments and detailed designs. Development Works will run for a period of 6-12 months before construction.
The loan for the Development Works is being financed by UK Export Finance (UKEF). JP Morgan is acting as the facility agent and mandated lead arranger for this initial loan on behalf of UKEF to the KRG.
Greg Hands MP, Minister for Trade and Investment, said: "This is great news for Biwater and for British exports, and I am delighted that UKEF is financing this hugely important contract. It shows what is possible when British technical excellence receives the right government support at the right time."
"The project will bring much needed benefits to the Kurdistan region and also offer substantial opportunities for supply chain companies based here in the UK," he noted.
Kurdistan region Prime Minister Nechirvan Barzani called the deal as a significant step that will help improve the daily lives of the citizens of Erbil and Sulaimani.
"It is also the first time the UK government has provided a direct loan to the KRG to boost our infrastructure. We hope this initial loan will pave the way to attracting finance for the next stage of this important project. We also appreciate the high-level backing this project has received from the UK government, highlighting the close and fruitful relationship between the UK and the Kurdistan Region," he added
TradeArabia
12 December
