White & Case Advises BMCE Bank on Innovative Financing for Moroccan Desalination Plant
Global law firm White & Case LLP has advised BMCE Bank as the sole lender supporting a consortium composed of Abengoa Water and InfraMaroc on the financing of a desalination plant in the Moroccan city Agadir.
Financed under an innovative public-private partnership (PPP) scheme, the large scale project is the first delegated management contract of this importance in Morocco under the law 54-05, and also the first for the production of drinking water which will contribute to the major development taking place in Greater Agadir, particularly in the tourism, agrifood and industrial sectors.
Signing the delegated contract between ONEE (the Moroccan National Electricity and Drinking Water Office) and the Société d'Eau Dessalée d'Agadir (the project company specially created by the winning consortium) took place during a ceremony at the ONEE headquarters on Friday, May 30. The contract covers the financing, design, construction and operation of the desalination plant, which can produce 100,000 m3 of drinking water per day and will reinforce the drinking water supply to the Greater Agadir region for a 20-year period.
The White & Case team in Paris was led by partner Paule Biensan with support from counsel François-Guilhem Vaissier, counsel Marianna Sédéfian and associates Olivier Le Bars and Hugues Martin-Sisteron. Madrid-based local partner Carlos Daroca advised on Spanish law aspects.
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