Hyflux Ltd achieves financial close for Qurayyat Independent Water Project (IWP) in Oman

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Hyflux Ltd achieves financial close for Qurayyat Independent Water Project (IWP) in Oman

Hyflux Ltd has announced that its subsidiary, Qurayyat Desalination SAOC, has achieved financial close for the non-recourse project financing of Qurayyat Independent Water Project (IWP) in the Sultanate of Oman.

The US$185 million facility is provided by Mizuho Bank, Ltd., Standard Chartered Bank, Dubai International Financial Centre Branch and Singapore based Clifford Capital Pte. Ltd. A noteworthy feature of this facility is an innovative fixed-to-floating rate term loan provided by Clifford Capital Pte. Ltd.

The project has an investment of around RO 100 million (US$266 million).

The project involves the design, construction, ownership, financing, operation and maintenance of a high-efficient desalination facility with 200,000 cubic metres per day of potable water output, to enter into commercial operation in March, 2017.

The project will be structured as an independent water project (IWP) with Oman Power and Water Procurement Company (OPWP) purchasing the potable water produced by the project under a water purchase agreement with a term of 20 years.

In December 2014, we reported that the Hyflux consortium submitted the lowest bid for the Qurayyat Independent Water Project (IWP). Qurayat Desalination Company is a joint venture of Singapore-based integrated water management and environmental solutions provider Hyflux Limited (85 per cent) and wholly Omani owned Modern Channel Services (15 per cent), a partnership of local investors.

Seven firms/teams were shortlisted for the project:

  • Hyflux/Bahwan consortium
  • GS Inima,
  • A consortium led by Tedagua (ACS),
  • A consortium led by Sumitomo,
  • A consortium led by Valoriza (Sacyr),
  • A consortium led by Itochu and
  • A consortium led by Abengoa.
List of country news

Country news

  • June 07, 2016

    Oman moves forward with hospital PPP

    Oma's Medical City (IMC) is expected to be developed under a public private partnership (PPP) according to sources. The Ministry of Health and the state-owned Oman Investment Fund (OIF) have already selected Carillion Alawi as a strategic partner to carry out the project. Read more
  • April 28, 2016

    OMAN´s OPWP seeks consultants for water and power projects

    Oman Power and Water Procurement Company SAOC (OPWP), a member of Nama Group who is responsible for the procurement of new electricity generating capacity and water in the Sultanate of Oman, has recently published a Request for Proposal (RFP) to provide Advisory Services for the development and implementation of a process for the future Contracting of Power and Related Water Capacity. Read more
  • April 19, 2016

    Financial close for Oman IWP

    The project includes design, construction, ownership, financing, maintenance and operation, of a seawater desalination plant. The drinking water produced by the plant will be sold under a 20 year water purchase agreement to OPWP. The Sohar IWP development will involve a total investment of US$259 million. Read more
  • March 23, 2016

    OMAN´s OPWP seeks legal commercial and financial advisors

    Oman Power and Water Procurement Company SAOC (OPWP), the member of Nama Group who is responsible for the procurement of new electricity generating capacity and water in the Sultanate of Oman, has recently published a Request for Proposals for financial and commercial advisory services and for legal advisory services for the development of the power 2021 procurement cycle. Read more
  • March 17, 2016

    8 teams prequalified to bid for Oman IWPs

    The Oman Power and Water Procurement Company (OPWP) has shortlisted eight teams for the development of three Independent Water Projects (IWP) in Sharqiyah, Salalah and Duqm. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.