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FINANCIAL NEWS
Oman’s OPWP, ACWA sign deal
17 Nov 2014
(MENAFN) Oman Power and Water Procurement Co (OPWP) announced it has signed a deal with ACWA Power Barka for the construction of a second seawater reverse osmosis (RO) plant in Barka, with a capacity 57.000 m3, Muscat Daily reported
ACWA said that the execution of the phase-two project is expected to have great benefits in supporting the national grid with the provision of clean and reliable water, particularly after the successful launch of the project’s first phase in May, which is now supplying 10 MIGD seawater to the national grid, with expectations that the second phase will be operational in October 2015.
ACWA also said that it has registered a net profit of USD22.84 million during the January-September period of this year, compared with USD18.34 million in the same period last year, while its revenue has increased to reach USD87.56 million compared with USD81.93 million for the same period in 2013.
Meanwhile, OPWP said that these projects will help in fulfilling the sultanate’s water demand, which is projected to increase by 6 percent every year, especially in the northern region of the country, increasing from 238 million m3 in 2013 to reach 349 million m3 by 2020.
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