[Infostock Daily=Reporter Park Jeong-do] GS Inima won a huge seawater desalination project worth 2.3 trillion won in expected sales in Oman, the Middle East.
GS Engineering & Construction announced on the 20th that GS Inima received a notice of failure (LOA) from Oman's Water Power Procurement Service (OPWP) on the 3rd stage of the Al-Gubra and the 5th stage of the Barka Private Freshwater Power Project (IWP).
Both projects are BOO (Build-Own-Operate) projects, and GS Inima will be in charge of financial procurement and construction for 20 years. Estimated sales are 1.634 trillion won and 697 billion won, respectively, totaling 2.331 trillion won.
GS Inima is a Spanish-based subsidiary with a 100% stake in GS Engineering & Construction. Since building the world's first reverse osmosis (RO) plant in 1967, it has continued to participate in global desalination projects.
The Oman Al-Gubra 3rd Stage Private Capital IWP Project is a beach area in the capital, Muscat, to build a 300,000-square-day RO seawater desalination plant. It can supply water to about a million people a day. It is the largest single desalination project in GS Inima.
The investment cost is $275 million, and GS Innima has a 52% stake in SPC, a 50% stake in EPC, and a 51% stake in operation management (O&M). Construction will begin in the second quarter of 2021 and will be completed for 34 months. It will start commercial operation in the second quarter of 2024 and operate for 20 years.
The Barka Phase 5 Private Capital IWP Project will house a 100,000m3 seawater desalination facility about 60km west of the capital Muscat. The total investment is $129 million. GS Inima has 100% of the right to operate on its own. GS is 50% owned by EPC and O&M. Commercial operations are scheduled to begin in the second quarter of 2023.
In May, GS Engineering & Construction began a joint research with GS Inima to commercialize the world's first 'Seawater Desalination New Renewable Energy Innovation Technology' developed in Singapore, the world's leading water treatment market. In July, based on water treatment technology, the Busan Metropolitan Government decided to participate in a project to create a smart food cluster.
Reporter Park Jeong-do newface0301@naver.com
