International Projects Development Company, an international consortium bidding for a major waste water treatment project in Kuwait, has signed an agreement with Commercial Bank of Kuwait for a loan of up to KD120 million ($390 million) to help finance the project. The consortium is one of four main bidders for the estimated $400 million Sulaibiya waste water treatment plant.

Final offers by prequalified firms are due to be presented by April 4. Bidders have to present letters of support for secured financing for the 30-year build-operate-transfer (BOT) project, which aims to produce some 375,000 cu m of water per day in its first phase.

Other main bidders for the project include a consortium by the local Kharafi group along with Bechtel of the US and one of its British units and Ionics Inc of the US. The third bidder is the local Al Ghanim International, Kuwait Waste Water Treatment Company with France's Suez-Lyonnaise des Eaux. Local Mailam, Massoud and Qudaibi Industries formed a fourth consortium with Azurix Corporation of the US and its German unit Lurgi Bamag GmbH and Britain's Wessex Water.