Deal details
Warsan (Dubai) Waste to Energy Plant - JBIC/NEXI Loan
Description
Nippon Export and Investment Insurance is providing insurance for a loan facility to Dubai Waste Management Company P.S.C, formed by ITOCHU Corporation, Hitachi Zosen Corporation, Dubai Holding Commercial Operations Group LLC, Dubal Holding LLC, N.V. BESIX S.A. and Tech Group Dubai, for a waste-to energy project located at the former Warsan landfill site in Dubai, the United Arab Emirates.This is the first waste-to-energy project in Dubai, and it is the first time for NEXI to provide insurance for such project.The project, under a 35-year concession period with Dubai Municipality, aims to build and operate a 200 MW waste-to-energy plant in the Warsan area to treat 1.9 million tonnes of solid waste annually.
Assets involved
Companies involved
- Sumitomo Mitsui Banking Corporation (SMBC), KfW IPEX-Bank, Societe Generale, Credit Agricole CIB, Commercial Bank of Dubai, Standard Chartered
- Mizuho, Standard Chartered
- Mizuho
- Itochu Corporation, Hitachi Zosen Corporation Group
- Itochu Corporation, Dubai Aluminium (DUBAL), Hitachi Zosen Corporation Group, Besix, Dubai Holding
- Covington & Burling LLP
- Sumitomo Mitsui Banking Corporation (SMBC), Standard Chartered, Societe Generale, Mizuho, Credit Agricole CIB, Siemens Bank, KfW IPEX-Bank
- Dubai Municipality , Hitachi Zosen Corporation Group, Itochu Corporation
- Dubai Municipality
- Mott MacDonald
- Standard Chartered
- Marsh JLT Specialties
- Allen & Overy
- Sumitomo Mitsui Banking Corporation (SMBC)
- Mizuho, Standard Chartered
- Sumitomo Mitsui Banking Corporation (SMBC)
- Mizuho
- NEXI - Nippon Export Investment Insurance
- Standard Chartered, Mizuho
- Standard Chartered
- Japan Bank for International Cooperation (JBIC)
- Societe Generale
- Mazars
Key information
Dubai Waste Management Company P.S.C.
952$m
22-06-2021
Power / Waste to energy
United Arab Emirates
Project & Infrastructure Finance
Not PPP
Tranche information
NEXI Covered Loan
405$
ECA-backed buyer credit
405$m
US Dollar - USD
0
25.0 years
NEXI - Nippon Export Investment Insurance
-
-
| Participant | role | ticket size |
|---|---|---|
| Sumitomo Mitsui Banking Corporation (SMBC) | MLA | 47$m |
| Standard Chartered | MLA | 62$m |
| Credit Agricole CIB | MLA | 55$m |
| Mizuho | MLA | 27$m |
| KfW IPEX-Bank | MLA | 104$m |
| Societe Generale | MLA | 108$m |
JBIC Direct Loan
452$
ECA-Direct Loan
452$m
US Dollar - USD
0
25.0 years
-
-
-
| Participant | role | ticket size |
|---|---|---|
| Japan Bank for International Cooperation (JBIC) | ECA direct lender | 452$m |
Commercial Tranche
94$
Term Loan
94$m
US Dollar - USD
0
25.0 years
-
-
-
| Participant | role | ticket size |
|---|---|---|
| Credit Agricole CIB | MLA | 5$m |
| Siemens Bank | MLA | 32$m |
| Standard Chartered | MLA | 12$m |
| KfW IPEX-Bank | MLA | 21$m |
| Societe Generale | MLA | 22$m |