Arab Finance: An alliance comprising Orascom Construction Plc and Metito, along with the Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi National Energy Company (TAQA), will develop, own, and operate a $2.4 billion large-scale seawater treatment and water transportation project in Abu Dhabi, the UAE, according to a press release on May 24^th.

The project will be funded through a special purpose vehicle (SPV) on a build, own, operate, and transfer (BOOT) model for 30 years.

Both ADNOC and TAQA will hold a 51% stake in the SPV, while Orascom Construction and Metito will own 24.5% each.

The mega project will include a greenfield seawater nanofiltration plant with a treatment capacity of over 110 million imperial gallons per day (500,000 cubic meters per day), in addition to seawater intake and outfall facilities, pumping stations, and a water transmission pipeline of about 75 kilometers.

The greenfield project will also involve an infield distribution network of over 230 kilometers to support reservoir pressure maintenance in the Bab and Bu Hasa fields in Abu Dhabi.

 “We are proud to partner with ADNOC and TAQA to deliver a project that is key to the sustainable development of the UAE’s oil and gas sector,” Osama Bishai, CEO of Orascom Construction, commented.

“We are also very pleased to strengthen our presence in the UAE as we continue to target strategic projects in the region across sectors in which we have developed strong expertise,” he added.

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