Independent financial advisory services firm Synergy Consulting has said it is playing a vital role as financial advisor to a consortium for the development of the Rakwa Independent Sewage Treatment Plant (ISTP) Project in Ras Al Khaimah.

The Rakwa ISTP Project is the emirate’s first large-scale wastewater treatment project developed through a public-private partnership (PPP) model.

The consortium comprising Etihad Water and Electricity (EtihadWE), Taqa Water Solutions and Saur International has entered into a long-term sewage treatment agreement (STA) with the Public Services Department Ras Al Khaimah (PSD) for the implementation of the project. The ISTP project will be delivered under a Build-Own-Operate-Transfer (BOOT) framework.

With a planned treatment capacity of 60,000cu/m per day, the ISTP facility is expected to significantly enhance wastewater treatment capabilities in Ras Al Khaimah and support a potential population of 300,000 residents, said a statement.

The project will play a key role in facilitating ongoing and future urban and industrial development across the emirate, the statement concluded.