International law firm Gowling WLG has advised Almar Water Solutions over the acquisition of a Sewage Treatment Plant investment in Muharraq STP Company BSC (MSC) from Mubadala Infrastructure Partners (MIP).
Leading water infrastructure developer Almar Water Solutions has acquired a 35% stake investment in MSC from emerging markets infrastructure fund manager MIP, increasing the company's portfolio of wastewater and reuse assets in the Middle East.
MSC has a 29-year concession to build, own and operate a 100,000 cubic meters per day state of the art wastewater treatment plant and a sewer conveyance system in the Muharraq area of the Kingdom of Bahrain. The conveyance system includes the first 16.5 km deep gravity sewer trunk pipeline in the Gulf cooperation Council (GCC) region and a wastewater collection network.
Providing specialist integrated water infrastructure expertise including financing, design and operation, this latest deal reinforces Almar Water Solutions' strategy to own and operate water assets in the region to contribute to the sector's development and sustainability in Bahrain and all GCC countries. According to the World Health Organization 40% of wastewater in the MENA region presently goes untreated.
The firm's Head of Dubai Office Tim Casben led on the deal, supported by Head of International Projects Jonathan Brufal.
Partner Jonathan Brufal said: "This latest investment acquisition by Almar Water Solutions is another significant step forward in improving and developing water quality and sustainability in the Middle East. Gowling WLG are proud to be able to support Almar Water Solutions in its growth strategy to develop industry leading tailored infrastructure solutions in GCC countries. This further evidences the strength of our Water Group in the GCC and Africa."
Corporate Partner Tim Casben said: "Our team in Dubai are delighted to have worked alongside the Gowling WLG Projects team in the UK on this acquisition. This latest advisory is yet another great example of the firm's ability to provide a seamless service across our international platform to best support the needs of our clients."
With proven ability on all stages of a project, the firm's global Projects Group offers an international perspective and a specialised full-service platform, providing industry-leading legal support and sector expertise to achieve local, national and international business intentions while managing legal risk whatever the requirement.