CFP Principal Sol Castro has joined the IFC advisory team providing transaction support to PT Sarana Multi Infrastruktur (Persero) and the East Java Provincial Government for the development of the Umbulan Water Project in Surabaya, Indonesia. The Umbulan Water Project is a USD200 million PPP bulk water supply transaction that intends to deliver 4,000 liters per second of potable water to five water distribution utilities in East Java. It is one of the priority PPP projects of the Indonesian Government. The East Java Provincial Government is the public sponsor while PT SMI is its lead advisor. PT SMI is a state-owned company that promotes and finances PPP infrastructure development in Indonesia.