• An estimated USD 370 million of project finance investment has been secured to complete the construction of the Ghubrah III Desalination Plant.

• Ghubrah III is the largest desalination plant and one of the prominent strategic projects in the water sector in the Sultanate of Oman.

• The project will enhance Oman’s water security and sustainability, ensuring reliable water supply.

GS Inima, a global leader in the water sector and a pioneer in reverse osmosis desalination, along with its partners Aljomaih Energy and Water Company—a leading Saudi investor, developer, and operator of utility and infrastructure projects—and SOGEX Oman, a key contributor to the Sultanate of Oman’s development, has achieved financial close for the Ghubrah III Desalination Plant. This milestone highlights the consortium’s commitment to advancing one of the region’s most critical infrastructure projects, ensuring sustainable water supply and supporting Oman’s Vision 2040.

The Ghubrah III Desalination Plant, with a production capacity of 300,000 cubic meters of desalinated water per day, will be financed by a consortium of international and local banks, including KEXIM, Standard Chartered, and Bank Dhofar. Utilizing advanced Reverse Osmosis technology, the project underscores Oman’s dedication to sustainable water management and infrastructure development.

Carlos Valencia, CFO of GS Inima, stated: “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, which will support GS Inima’s future growth.”

This agreement, finalized in December, exemplifies GS Inima’s ongoing commitment to Oman and the broader Middle East market. The company continues to collaborate with equity partners and stakeholders to deliver innovative, sustainable solutions while creating economic development opportunities for local communities.

Marta Verde, CEO of GS Inima, added: “This financial close is a significant milestone for GS Inima, as it not only reinforces our leadership position in the water treatment sector but also highlights our dedication to sustainability and innovation in large-scale projects. The Ghubrah Desalination Plant, which has advanced rapidly since its inception, serves as a prime example of how technology and international collaboration can address water challenges in arid regions.”

The plant, which will be designed and built by GS Inima as the EPC contractor, is expected to commence commercial operations in the first quarter of 2027. This represents a vital step toward enhancing water security in the Sultanate of Oman. Nama Power and Water Procurement Company awarded GS Inima a 52% stake in the project, with Aljomaih and SOGEX Oman holding 24% stakes each. The concession contract spans 20 years.

Ibrahim Al Jomaih, Chairman of the Board of Directors at Aljomaih Energy and Water Company, remarked: “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 advancing innovative and sustainable solutions that support long-term development goals. We are honored to contribute to this transformative initiative in the Sultanate and look forward to commencing operations in 2027, setting a new benchmark for excellence in water infrastructure.”

For the Ghubrah III IWP project, SOGEX collaborated with GS Inima and Aljomaih Energy and Water Company, effectively combining local expertise with international capabilities. SOGEX played a critical role in liaising with government agencies, financial institutions, and key ministries, culminating in the project’s successful financial closure.

Dr. Suhaib Abudayyeh, CEO of SOGEX, stated: “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.”