Colin Ng & Partners LLP (“CNP”) advised Beijing Enterprises Water Group Limited (“BEWG”) on a corporate guarantee by members of the UEEV group of companies in relation to a project financing by MUFG Bank, Ltd. Singapore Branch and Oversea-Chinese Banking Corporation Limited of approximately S$95 million for the BEWG-UESH NEWater Plant. PUB, Singapore’s National Water Agency, awarded the Design-Build-Own-Operate (DBOO) contract for the NEWater plant to BEWGI-UE NEWater (S) Pte Ltd, a joint venture between BEWG International Pte Ltd, a subsidiary of BEWG, and UES Holdings Pte Ltd, as a public-private partnership.
Sited on top of the Changi Water Reclamation Plant, the BEWG-UESH NEWater Plant has a capacity of 228,000m3 or 50 million gallons a day. Together with four other existing facilities, the new plant provides enough NEWater capacity to meet up to 40% of Singapore’s total daily water demand. The BEWG-UESH NEWater Plant was awarded Water Deal of the Year in 2016 at the Global Water Awards organised by Global Water Intelligence.
Bill Jamieson (partner) and Tang Zi Yang (associate) were the lawyers advising BEWG on the corporate guarantee.