Befesa closes Quindao desalination finance
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".