ADIC-UBS Bid for Mega Infrastructure Projects

Haseeb Haider
Filed on September 28, 2008

ABU DHABI — The ADIC-UBS Infrastructure Investment Fund is currently bidding for four multi-billion US dollar infrastructure projects including the Aqaba Port Redevelopment in Jordan, an Independent Power and Water Plant in Saudi Arabia, a Sewage Treatment Plant in Bahrain, and a Schools Project in Egypt.

“We have submitted an expression of interest for the Aqaba Port Redevelopment Project in Jordan, a $400-500 million project, which will be developed on Built-Operate-Transfer (BOT) basis. The project will move to the bidding stage in October,” said Mark Thompson Chief Executive Officer ADIC-UBS Infrastructure Investment, in an interview with Khaleej Times.

Abu Dhabi Investment Company (ADIC) and Union Bank of Switzerland (UBS) launched the infrastructure fund early this year, to invest in the expanding infrastructure in the MENA and Turkey.

The Fund will take up to a $100 million equity stake in a 3,000 megawatt power project in Saudi Arabia worth $3.5-4 billion. An international consortium has recently been awarded the status of “conditional preferred bidder” for the project and a final decision is expected shortly.

The Fund will also bid for a $400-500 million Sewage Treatment Plant in Bahrain, which will be developed on a BOT basis. The Fund is currently in the process of finalising its arrangements with its consortium members which include a major global contractor and operator as well as another regional infrastructure fund.

The Fund will further bid for a $500-$700 million Schools Project in Egypt.

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