Al Dur Power and Water Company, a leading power generation and water desalination company in Bahrain, has successfully closed the refinancing of financial facilities totaling $1.2 billion. This new financing, with a maturity period of 11 years, was provided by a consortium of 17 local, regional, and international banks, including several Emirati banks. The refinancing package comprises conventional facilities worth $643 million and Islamic facilities worth $557 million. These facilities involve a broad group of commercial lenders who are active in European and Middle Eastern project financing markets.
Al Dur Power and Water Company is jointly owned by Engie, the Gulf Investment Corporation, Kyushu Electric Power Company (Kyoden), and the General Authority for Social Insurance. The company’s flagship project, the Al Dur Independent Water Desalination and Electricity Generation Plant, is the most significant power generation project in Bahrain. With a capacity of up to 1,234 megawatts of electricity and 48 million gallons of water per day, the plant plays a crucial role in Bahrain’s energy and water production. The company benefits from a 25-year power and water purchase agreement with the Electricity and Water Authority, and the plant commenced commercial operations in early 2012.
The new financial facilities will allow Al Dur Power and Water Company to refinance its existing loan for the plant project, which is a major asset with reliable operating balance and no construction risks involved. In addition to its core operations as a power generation company that provides essential services to Bahrain’s energy needs, Al Dur also offers metal products through its subsidiary companies that cater to various industrial needs.
Al Dur Power and Water Company’s subsidiaries include several companies that specialize in providing metal products such as aluminum sheets like 5083, 5086
