Oman’s Barka 5 Independent Water Project (IWP) has confirmed that it is almost done with development works. An official statement from Nama Power & Water Procurement Company noted that by 2024, the IWP targets to commence commercial operations.
The project’s EPC contract was awarded to a Korean contractor’s subsidiary, GS Inima in November 2020. The Madrid-headquartered company is recognized as a world benchmark, especially in the water sector. Moreover, GS Inima specializes in all project phases, including engineering, financing as well as operation. In addition to construction, and maintenance.
Generally, the region of Oman is an arid area with limited groundwater resources. In an effort to meet growing demands for potable water, the country has embarked on an array of small and large brackish and seawater desalination plants. The Barka 5 development, located in the South Al Batinah Governorate. features as Oman’s eighth independent water project.
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Oman’s Barka 5 Independent Water Project Capacity
Quite impressively, Oman’s Barka 5 Independent Water Project boasts a 100,000 cm/d (cubic meters a day) capacity. In periods of demand, the plant will produce 105,000 cm/d, further contributing towards improved water supply in the region. In total, it is reported to cost $1.86 billion to fully set up. Official statements noted that 70% of the project’s $130 million funding for building will be procured by GS. The company revealed that the funding will be from the Export-Import Bank of Korea. Meanwhile, 30% of the building cost funding will be from KEB Hana Bank.
As a whole, the development is a build-own-operate (BOO) project. Therefore GS Inima will run the facility for 30 years, along with financing. A press release noted that the company will generate well up to $545 million in revenue. An official from GS Engineering & Construction said that the full-fledged IWP is an exceptional opportunity to expand the firm’s technology. Furthermore, the official said that it will boost the expansion not only within the Middle East but in Asian markets as well.
