ANZ is providing an export credit agency-backed US$105.2mn loan to the government of Sri Lanka for the third phase of a drinking water treatment plant project.
Outotec has been working on the water project with both ANZ and EFIC for more than a decade.
The loan, which is backed by Export Finance and Insurance Corporation ( EFIC), is being used by Sri Lanka to fund a project that is being carried out by the Australian subsidiary of Finnish firm Outotec Oyj.
Outotec has been working on the water project with both ANZ and EFIC for more than a decade, and has now signed a contract with the state-run National Water Supply and Drainage Board of Sri Lanka to undertake phase three.
Phase three, officially known was the integrated water supply scheme for unserved areas of Ampara district, will create a drinking water treatment plant, transmission mains, distribution systems and associated infrastructure to supply inland areas of Ampara.
“Outotec is a valued client and we are pleased to work with EFIC again on the extension of the Ampara district project,” notes Paul Richards, global head of structured export finance at ANZ.
Peter Field, executive director, origination and portfolio management at EFIC, adds: “EFIC is delighted to continue our longstanding relationship with Outotec and ANZ. This project is a good example of how EFIC can work with a commercial bank to support the financing of Australian exports on terms which may exceed the bank’s risk appetite.”
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