Boston, MA -- (SBWIRE) -- 08/15/2012 -- BMI View: There remains a sense of slow but steady progress in Bahrain's investment climate. The government's decision to move for a US-dollar denominated bond issue, as part of efforts to provide more funding for social issues, is a positive sign and the ratings agencies have maintained the sovereign's previous foreign currency issuer ratings. Though no major new water projects have been announced in Q212, there is no sign of change in the government's commitment to the water sector and for private developers to play a major part in rolling out new capacity in terms of both desalinated water and treated wastewater.
The key trends and developments in Bahrain's water sector are:
- The decision on April 30 2012 for Malaysia's Malakoff Corporation to buy a 40% stake in the Hidd Independent Water and Power Projects (IWPP) is evidence of strict imposition of regulatory requirements. The UK's International Power was forced to divest its stake in the Hidd Power Company (HPC) project company set up in 2006 with Sumitomo and GdF Suez. IP was forced to sale part of its holding in HPC after the business combination between International Power and GdF Suez Energy's international holdings left it with a combined 70% stake in the project company, contravening stipulations on the amount of power generation capacity that can be owned by a single private entity.
- Bahrain's main oil company, Bahrain Petroleum Company (Bapco) announced in June 2012 that it would use GE to design and supply a membrane bioreactor (MBR) system for the wastewater treatment plant at Sitra. The plant will handle a flow of 24mn litres a day.
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