City firms advise on water deal

City firms Sinclair Roche & Temperley and CMS Cameron McKenna have completed the first stage of one of the world’s biggest water projects – advising the Municipality of Bucharest on a billion-dollar investment.

The firms are advising the International Finance Consortium and the municipality on a project to supply water and sewerage services to 2.2 million people in the Romanian capital. French utilities conglomerate Vivendi has just successfully tendered to do the work.

Camerons head of water projects Richard Temple, who is leading a team of 20 on the deal, says: “We anticipate that we will be continuing to work on it for another nine months to a year as it goes forward to the financing stage.”

The Camerons’ team providing international advice on the project includes procurement partner Sue Hankey, environment partner Paul Sheridan, project finance partner Nick Zervos and insurance partner Stephen Tester.

The Sinclair Roche team providing local advice is led by the senior UK lawyer in Romania, David Stabb.