In connection with today's offer commencement, the Kuwait Authority for Partnerships Projects and the Ministry of Public Works, as contracting authorities for the sewage treatment project Umm Al Hayman in Kuwait (sewage treatment plant as well as canal network with pumping stations), announced that the consortium in which WTE Wassertechnik GmbH with its headquarters in Essen, Germany, ("WTE"), a subsidiary of EVN AG, and a Kuwaiti financial investor each hold a 50 % stake, emerged from the offer process with the best proposal. The contract has yet to be officially awarded.

Should the contract be awarded, WTE, as general contractor, would be responsible for the planning and construction of the project, which will take approximately four years. WTE would thereupon be responsible for the operation of the sewage treatment plant with a processing capacity of 500,000 m³ per day for a period of 25 years.

The financing of the construction of the sewage treatment plant (contract value corresponds to approximately EUR 600 million) will be done through a project company majority-owned by Kuwaiti state institutions. WTE would hold an indirect stake in such company of 20%. Based on the envisaged project financing, it is expected that WTE will have an equity stake of approximately EUR 25 million. In case of an award, EVN AG will be expected to provide customary collateral to the financing banks, considering the project size, for the debt capital for the construction of the sewage treatment plant in an amount as yet to be determined.

The financing of the construction of the canal network and the pumping stations (contract value corresponds to approximately EUR 950 million) will be done entirely by the contracting authorities and will not result in any related obligations for EVN AG.

In accordance with the tender terms, the contracting authorities will fully evaluate the proposal of the consortium. The final award of contract is expected in the course of this calendar year.

Maria Enzersdorf, on 16 March 2017

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Phone: +43 2236 200-12698
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Stefan Zach
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