Malakoff ties up Al Ghubrah desalination finance
Malakoff Corporation Berhad announced on 26 July 2013 that it had signed the financing agreements of the 42 MIGD (191,000 m³/d) Al Ghubrah independent desalination project in Oman.The project, expected to be completed by October 2014, is being developed by Muscat City Desalination Company SAOC (MCDC), a consortium comprising Malakoff International Ltd (45%), Sumitomo Corporation of Japan (45%) and Cadagua SA of Spain (10%)
The financing has come from the Bank of Tokyo-Mitsubishi UFJ Ltd, Sumitomo Mitsui Banking Corporation and Japan Bank for International Cooperation.
"We are excited that we have achieved another significant milestone in expanding our presence to position Malakoff as a leading independent water and power producer in the international market," said Zainal Abidin Jalil, CEO of Malakoff. "This successful foray into the Oman water desalination business has certainly put Malakoff in a stronger position to pursue more opportunities in the Middle East & North Africa (MENA) region," he added.