Loyens & Loeff advised KBC, Belfius and Argenta, the lenders to the consortium of Besix and Indaver, on a public-private partnership (PPP) for a mono-treatment plant for Aquafin. The mono-treatment plant at the port of Ghent will recover energy and natural resources from the wastewater of 4 million Flemish citizens. A special purpose vehicle set up by Besix and Indaver will design, build, finance, maintain and operate the plant until 2047.
The project marks a major step for Aquafin towards the circular economy in the coming years. Sludge is a byproduct of Aquafin's wastewater treatment and a valuable form of biomass while at the same time allowing the recovery of phosphorus. The plant will produce high-pressure steam for ArcelorMittal, thereby reducing the latter's use of fossil fuels.
The project brings together BESIX, a leading Belgian construction group with a global presence, and Indaver, a specialist in sustainable waste management solutions.
The Loyens & Loeff team, composed of members of our Energy & Infrastructure and Banking & Finance practice groups, acted as the lenders' legal advisor. Our assistance included due diligence, the drafting of the finance documentation and the negotiation between the lenders and the consortium on loan documentation and subcontracts. We congratulate Besix and Indaver and their lenders and are proud that Loyens & Loeff could contribute to the success of this landmark project.