GS Inima, a world leader in the water sector, positioned as one of the Groups with the largest volume of plants in terms of concessions and with the longest history in reverse osmosis desalination, and its partners Aljomaih Energy and Water Company, a leading Saudi investor, developer, and operator of utility and infrastructure projects and SOGEX Oman, a company which contributed remarkably in the development of Sultanate of Oman, have reached financial close to design, build, operate and maintain Ghubrah III Desalination Plant in Oman. This marks a significant milestone in GS Inima’s, Aljomaih Energy and Water Company and SOGEX Oman commitment to develop one of the region's most important infrastructure projects in terms of water supply and sustainability.
The Ghubrah Desalination Plant, with a production capacity of 300.000 cubic meters of desalinated water per day, will be financed by a group of international and local banks, including KEXIM, Standard Chartered and Bank Dhofar. Utilizing Reverse Osmosis technology, the Ghubrah 3 desalination plant exemplifies Oman's commitment to sustainable water management and infrastructure development in line with the national objectives of Vision Oman 2040.
Carlos Valencia, CFO, GS Inima, said: "Completing this transaction represents an important achievement for the company. This result would not have been possible without the joint efforts of our client Nama Power and Water Procurement Company, our partners, the financing entities and GS Inima. Ghubrah reaffirms the Company's position as a project financing partner for our clients and increases our recurring revenue base that will support GS Inima's future growth."
This new agreement, which was reached last December, is another example of GS Inima's commitment to Oman and the entire Middle East market, working with equity partners and stakeholders to deliver innovative, sustainable solutions while creating economic development opportunities for local communities.
Marta Verde, CEO, GS Inima, added: “This financial close is a very important milestone for GS Inima, as it not only reinforces our leadership position in the water treatment sector, but also underlines our commitment to sustainability and innovation in large-scale projects. The Ghubrah Desalination Plant, which has progressed rapidly since its inception, is a prime example of how technology and international collaboration can provide effective solutions to water challenges in arid regions.”
The plant, that will be designed and built by GS Inima as EPC contractor, it is expected to start commercial operation in the first quarter of 2027 representing a significant step towards enhancing water security in the Sultanate of Oman. Nama Power and Water Procurement Company selected GS Inima with a 52% stake in partnership with Aljomaih (with 24%) and SOGEX Oman (with 24%) for this project’s concession contract for 20 years.
Mr. Ibrahim Al Jomaih, Chairman of the Board of Directors, Aljomaih Energy and Water Company, said: “The successful financial close of Ghubrah III IWP marks a proud milestone for Aljomaih Energy & Water, alongside our esteemed client, partners and lenders. As one of the most strategic developments in Oman’s water sector, this project underscores our unwavering commitment to advance innovative and sustainable solutions that supports long-term development goals and is aligned with our belief that collective action fuels lasting progress. We are honored to contribute to this transformative initiative in the Sultanate and look forward to commencing operation in 2027, setting a new benchmark for excellence in water infrastructure.”
For the Ghubrah III IWP project, SOGEX partnered with GS Inima and Al Jomaih Energy & Water Company, effectively blending local expertise with international capabilities. The company played a critical role in liaising with government agencies, financial institutions, and key ministries, culminating in the successful financial closure of the project.
“Achieving financial closure for the largest and most significant water project in Muscat is a monumental accomplishment for our entire team. This milestone would not have been possible without the unwavering support of Nama Power and Water Procurement Company—a subsidiary of Nama Holding Company—the Authority for Public Services Regulation (APSR), and both international and local lenders who recognized the strength and reliability of the Omani regulated power and water sector as a compelling opportunity for foreign investment,” said Dr. Suhaib Abudayyeh, CEO, SOGEX.
