BankMuscat, Oman’s leading financial institution, has won an advisory mandate by the Jordanian government-owned Aqaba Water Company.

The BankMuscat-led advisory group will advise on all financial, technical and legal matters relating to the water and wastewater utility project.

BankMuscat, along with technical advisor Mott Macdonald, international legal advisor Allen & Overy and local legal advisor Khalifeh & Partners won the mandate after competing with 10 international advisory consortium.

The advisory group will assist Aqaba Water Company in the preparation of strategy report and managing the competitive bid process to select a private sector developer for the project. All members of the advisory team are highly reputed, a statement said.

The signing ceremony was held under the auspices of Engineer Ra'ed Abulso'oud, Minister of Water and Irrigation. The advisory agreement was signed by Emad Zreikat, director general of the Aqaba Water Company and Sulaiman bin Mohamed Bin Hamed Al Yahyai, director, BankMuscat.

The occasion was graced by Musallam Bin Bakhit Al-Barami, Ambassador of Oman to Jordon and Engineer Imad Fakhory, CEO of Aqaba Development Company.

With large infrastructure projects being developed in Jordan and the government’s increased efforts to create a suitable and attractive business environment, BankMuscat has initiated discussions with several other key projects in Jordan to provide comprehensive advisory services, added the statement.   –TradeArabia News Service