South Korean EPC contractor GS Engineering & Construction’s subsidiary GS Inima has commenced work on the Barka 5 Independent Water Plant in Oman.

The seawater desalination project is being developed with an estimated cost of $1.86bn (KRW2.4tn).

The plant will be able to desalinate 100,000m3 of water each day.

Out of the $130m required for construction of the facility, GS E&C will procure 70% from the Export-Import Bank of Korea, and 30% from KEB Hana Bank, reported Korea Herald.

The project, which is being implemented on a build-own-operate (BOO) model, is anticipated to start operations in 2024.

Besides financing and construction, GS Inima will operate the plant for 20 years under this BOO model.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The firm is expected to make a revenue of $54m (KRW700bn).

GS Engineering & Construction official was quoted by The Korea Herald as saying: “The full-fledged Oman Barka project will serve as an opportunity to expand our technology not only in the Middle East but also in Asian market.

“The water treatment project is GS E&C’s future growth engine and representative eco-friendly project, and will solidify our status as a global leader in this field.”
——————————————————————————————————————
Image: The plant will be able to desalinate 100,000m3 of water each day. Credit: 后园 卓 from Pixabay.