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National Water Company Forum Jeddah, Hilton Hotel 7 December 2011

National Water Company Forum Jeddah, Hilton Hotel 7 December 2011. Introduction. Best practice in structuring BOT/BOOT/BOO WWTPs Contents Structural Issues Contractual Terms Request for Proposals Shari’ah -Compliant Structures. Structure. Do not reinvent the wheel

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National Water Company Forum Jeddah, Hilton Hotel 7 December 2011

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  1. National Water Company ForumJeddah, Hilton Hotel7 December 2011

  2. Introduction Best practice in structuring BOT/BOOT/BOO WWTPs Contents • Structural Issues • Contractual Terms • Request for Proposals • Shari’ah-Compliant Structures

  3. Structure Do not reinvent the wheel Examination of WEC and SEC IWPP Programmes Single Bulk Offtaker and End User Models Anchor Off-takers Creditworthiness and Government Credit Support Government control and Shareholding Term BOT/BOOT or BOO

  4. Contractual Terms Effluent Sale Strategy (Irrigation, District Cooling, etc) Sludge Sale Strategy and Treatment Standards Monitoring and Standard Performance Tariff Adjustments Termination Handback Bankability

  5. Request for Proposals Importance of transparency Importance of Clear Rules Expression of Interest, Pre-qualification, Issuance of RFP, Preferred Bidder, Signing, Financial Close Draft Agreements and Marking Up Agreements

  6. Shariah Compliant Structures Use of Shariah Compliant Structures Istisna and Ijaara

  7. Istisna’a Istisna’a: Istisna’a contracts are used to finance the acquisition of build-to-order manufactured goods and construction of improvements on real estate. The acquisition price of the subject asset is paid in instalments pursuant to an agreed schedule. Istisna’a contracts are frequently used to finance the construction of real estate developments, in ship and aircraft manufacturing, and for other similar assets.

  8. Ijara The financier enters into an istisna’a with, the supplier and leases the asset to the customer. The customer makes regular rental payments to the financier while the asset is leased.

  9. Thank you.Leroy LevyPartnerKing & SpaldingAl Fattan Currency HouseTower 2, Level 24Dubai International Financial CentreP.O. Box 506547Dubai, UAETel: +971 4 377 9910Fax: +971 4 377 9955

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