ABN Amro Bank UAE has announced the structuring of a US$57mn (Dh209mn) term loan facility for Tanqia FZC.
Tanqia, a private company based in Fujairah, has been granted the 33-year concession by the government of Fujairah to design, build, finance, own, operate, and expand a wastewater treatment system for the city of Fujairah, Qidfa and Mirbah, and a number of hamlets within the concession area.
A consortium of Bilfinger Berger and Passavant-Roediger Anlagenbau will construct the project.
The facility will part-finance the US$148mn wastewater treatment system for the city of Fujairah and its environs.
The loan is supported by Euler Hermes, the German export credit agency.
“The deal was structured in a timely manner and competitively priced. ABN Amro worked closely with Tanqia at every stage to advise them on the structure of the facility, to negotiate with Hermes and put together essential documentation for the disbursal of the loan,” says Jan Willem van den Bosch, the country executive of ABN Amro UAE.