MUSCAT, SEPT 30
GS Inima Barka V Desalination Co SAOC, the developer of the recently completed Barka V desalination plant, is preparing for an initial public offering (IPO) that will see 40% of the company’s shares listed on the Muscat Stock Exchange. This move comes as part of the company's efforts to attract investments and expand its green energy capabilities. In a statement, Juan Jose Benayas, CEO of GS Inima Barka V Desalination Co SAOC, said, “Preparation of the IPO for the 40% shares of the GS Inima Barka 5 Desalination Co SAOC is starting.”
The Barka V desalination plant, located in the South Al Batinah Governorate, was completed in June 2024, nine days ahead of schedule. The facility, which can produce 100,000 cubic metres of drinking water per day, is now fully operational and serves approximately 800,000 residents across Muscat and nearby governorates. This milestone project was developed by GS Inima, a global leader in water infrastructure, using advanced reverse osmosis technology.
The project was completed within 26 months and achieved a significant safety record of 3 million work hours without a lost time incident (LTI).
Benayas also announced that the company is also set to begin constructing a self-supply solar photovoltaic (PV) plant. “All consents from the relevant Omani authorities have been secured, and we expect the PV plant to be operational by 2025,” he said.
This new solar facility will provide green energy to the desalination plant, aligning with Oman’s National Energy Strategy, which aims to produce 30% of its electricity from renewable sources by 2030. The addition of solar power will enhance the environmental sustainability of the plant’s operations, furthering Oman’s Vision 2040 goals.
The IPO comes at a time when Oman’s renewable energy sector is gaining traction, with major projects such as the Barka V desalination plant and solar-powered desalination plants already making headlines. With an estimated investment of $138 million, the Barka V project has set new standards in terms of both efficiency and sustainability in the region.
As GS Inima Barka V Desalination Co prepares to go public, it is positioning itself as a key player in Oman’s water and renewable energy sectors, offering investors an opportunity to participate in the growing demand for sustainable infrastructure.
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