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Victoria's desalination plant gets the go ahead

Victoria's desalination plant gets the go ahead

Deal summary: The financial close of the deal to construct Australia's largest desalination plant was successfully reached on 2 September.The Victorian water project has been hailed as the…

Deal summary:

The financial close of the deal to construct Australia's largest desalination plant was successfully reached on 2 September.

The Victorian water project has been hailed as the largest Public Private Partnership (PPP) in the world to close since the GFC began, and will be operational from 2011.

The Victorian government has awarded the AquaSure consortium the contract to build the country's largest desalination plant at Wonthaggi in Victoria.

Key players: Clayton Utz, Allens Arthur Robinson, Corrs Chambers Westgarth, Mallesons Stephen Jaques

Clayton Utz advised AquaSure consortium - comprising Suez Environnement, Degrémont, Thiess and Macquarie Capital Group - throughout the bidding process, providing strategic and commercial advice on both the bidding documentation and financing arrangements for the project.

Allens Arthur Robinson acted for Thiess, and Corrs Chambers Westgarth advised the Victorian Government. Mallesons Stephen Jaques acted for the senior financiers and mezzanine financiers to the AquaSure Consortium.

The Government also acknowledged BassWater - consisting of Veolia, John Holland and the Royal Bank of Scotland - for their "highly professional and competitive bid".

Commentary:

AquaSure will begin construction in October on the desalination project, which will include the plant at Wonthaggi, the 86-kilometre transfer pipeline to connect to Melbourne's existing network, the underground power source and renewable energy projects.

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