Business News

Published: Wednesday February 13, 2013 MYT 12:00:00 AM
Updated: Wednesday April 17, 2013 MYT 12:11:39 AM

Malakoff JV seals 20-yr water purchase deal with Oman

KUALA LUMPUR: Malakoff Corporation Bhd's consortium -- Muscat City Desalination Co. S.A.O.C. -- has sealed a 20-year water purchase agreement with Oman Power and Water Procurement Company S.A.O.C.

The agreement is for the sale and purchase of potable water and to make available the net desalination capacity of 42 million gallons (191,000 cubic metres) of water daily from the project.

"The project was awarded to the Malakoff International Ltd-led consortium on a build, own and operate basis utilising reverse osmosis technology.

"The targeted commercial operation date of the project is in the fourth quarter of 2014," according to MMC Corporation Bhd on Wednesday.

Malakoff's unit Malakoff International Ltd had on Monday signed the water purchase agreement.

MMC owns 51% of Malakoff International, which in turn has a 45% stake in Muscat City Desalination Co.

Muscat City Desalination's shareholders -- Malakoff International, Sumitomo Corporation of Japan and Cadagua S.A. of Spain -- also signed a project founders agreement with Electricity Holding Company S.A.O.C., which is owned by the Sultanate of Oman.

Tags / Keywords: News, Business, Malakoff, Muscat City Desalination Co., 20-year water purchase agreement, Oman Power and Water Procurement Company, Business


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