Dubai Waste Management Company (DWMC) has entered into a long-term financing agreement in the amount of USD 900 million with major institutional lenders, along with its partners including a consortium consisting of Dubai Holding, DUBAL Holding, Itochu, Hitachi Zosen Inova, Tech Group and BESIX. Japan Bank for International Cooperation (JBIC) and private financial institutions including Société Générale Bank, KfW IPEX Bank, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank, Ltd., Siemens Bank and Crédit Agricole Bank. Nippon Export and Investment Insurance (NEXI) will provide the insurance for a part of the loan being provided by the financial institutions.
BESIX and its partners will carry out one of the world’s largest waste-to-energy plants to be built in a single phase. The facility will process 1.9 million tonnes of municipal waste per year and produce approximately 200 MW of renewable electricity.
The plant was designed in close collaboration between Dubai Municipality, Hitachi Zosen Inova and BESIX. The construction, carried out by Hitachi Zosen Inova and BESIX, started in 2020. The facility will be fully operational in 2024. At the peak of the works, 2,500 workers will be deployed and the site will use up to 16 tower cranes, including the world’s largest tower cranes in order to install the equipment inside the plant.
The project is subject to a BOOT contract and includes financing, design, construction, and operations and maintenance of the facility for 35 years. Hitachi Zosen Inova and BESIX will also be in charge of the operations and maintenance of the plant for 35 years.
This strategic project marks an important contribution to Dubai Clean Energy Strategy 2050 and Dubai Plan 2021 to making the Emirate one of the most sustainable cities in the world.
“The Dubai Centre for Waste Processing is proceeding according to schedule, with His Highness Sheikh Mohammed bin Rashid Al Maktoum’s support. The strategic focus of this project is to achieve environmental protection, reduce carbon emissions, divert waste from the landfills, and contribute towards the realisation of Dubais strategy to shift towards clean energy. Dubai Municipality is setting up an attractive environment for investors to support increased foreign direct investment,” said H.E. Eng. Dawoud Al Hajri, Director General of Du
United Arab Emirates