Spanish contractor Befesa announced on 23 July 2009 that its subsidiary Befesa Water has closed financing for the design, construction and operation over 25 years of a 100,000 m³/d seawater desalination plant in Qingdao, China.
The project has a total investment of € 135 million financed by a syndicate of banks formed by Agricultural Bank of China (consortium leader), Export-Import Bank, China Construction Bank and China Merchants Banks, which is providing 70% of the investment.
The desalination plant will use reverse-osmosis with ultrafiltration pretreatment and a central pumping system for greater energy efficiency.
It is estimated that in 25 years of operation, water sales revenues will exceed € 654 million, and technical assistance for its operation will require an additional € 25 million.
For Javier Molina, president of Befesa, “This transaction confirms the ability of Befesa to continue funding the development of major infrastructure projects and in a very difficult time due to the global crisis, as well as our strategic commitment to be the leader in desalination”.