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Clutz, Allens and Corrs pitch in for Vic Desalination Project

Clutz, Allens and Corrs pitch in for Vic Desalination Project

Deal summary: The AquaSure consortium has won its bid for the Victorian government contr

Deal summary:

The AquaSure consortium has won its bid for the Victorian government contract to build the country's largest desalination plant at Wonthaggi in Victoria. The consortium comprises Suez Environnement, Degremont, Thiess and Macquarie Capital Group.

The project contract is expected to reach financial close on or before 4 September this year, with the AquaSure consortium to begin construction of the plant and associated infrastructure soon after. Work has already commenced on the project.

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Key players:

Clayton Utz advised the AquaSure consortium. Melbourne projects partners Dan Fitts, Marcus Davenport and Naomi Kelly led the transaction team. Clayton Utz debt finance partner Simon Irvine and corporate partner Brendan Groves advised on the complex debt funding and equity arrangements

Allens Arthur Robinson acted for Thiess and Degrémont. Partner Leighton O'Brien led the Allens team on the deal, which included Partners Ren Niemann, Malcolm Stephens, John Greig and Senior Associate Christopher Larcos.

Corrs Chambers Westgarth advised the Victorian government.

Allens' Leighton O'Brien

Commentary:

The Thiess-Degrémont joint venture will design and construct the project. The Victorian Desalination Project will be Australia's largest desalination plant and will be capable of providing around a third of Melbourne's annual water supply. AquaSure will also deliver the Victorian Government's preferred underground power option and ensure water delivery by the end of December 2011.

'The successful result is a credit to a lot of hard work from everyone and an outstanding bid for this critical infrastructure," commented Allens partner Leighton O'Brien.

Clayton Utz partner Dan Fitts

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