The Ghubrah III Independent Water Project (IWP) – Oman’s biggest desalination plant - has achieved financial close, paving the way for its development and implementation to advance in earnest.
Spanish-based GS Inima (with a 52 per cent stake), a global player in the water services sector, together with partners Aljomaih Energy and Water Company (24 per cent), a leading Saudi developer of utility and infrastructure projects, and SOGEX Oman (24 per cent), an operations and maintenance specialist in the power and water industry, are developing Ghubrah III under a concession awarded by Nama Power & Water Procurement Company (PWP), the single buyer of power and water output in Oman.
Under the concession, the partnership will design, build, operate, and maintain the Ghubrah III Desalination Plant for 20 years. The world-scale project, with a desalination capacity of 300,000 cubic metres per day, is slated for commercial launch in Q1 2027.
GS Inima, the lead partner, announced on Thursday that a group of international and local banks, including the Export-Import Bank of Korea (KEXIM), Standard Chartered and Bank Dhofar, has pledged to contribute $370 million in funding for Ghubrah III.
GS Inima, part of Korean engineering and construction multinational GS E&C, is taking the lead in the design and construction of Ghubrah III in its capacity as EPC contractor.
Carlos Valencia, CFO of GS Inima, commented: “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 that will support GS Inima's future growth.”
For Saudi investor Aljomaih Energy and Water Company, Ghubrah III will further reinforce its presence in Oman’s water sector. Ibrahim Al Jomaih, Chairman of the Board of Directors of Aljomaih Energy and Water Company, said: “As one of the most strategic developments in Oman’s water sector, this project underscores our unwavering commitment to advance innovative and sustainable solutions that support long-term development goals and is aligned with our belief that collective action fuels lasting progress. We are honoured to contribute to this transformative initiative in the Sultanate and look forward to commencing operation in 2027, setting a new benchmark for excellence in water infrastructure.”
Likewise, SOGEX Oman, which commenced operations at the start of Oman’s modern Renaissance in the 1970s, is set to further consolidate its longstanding presence in this key sector. The company has to its credit construction roles in Oman's first power and desalination plant, the Ghubrah power and desalination plant, in 1975. Two decades later in 1996, it made history when it was selected to operate and manage Oman's first Independent Power Plant (IPP), the Manah IPP.
GS Inima has commissioned Spanish engineering consultant Savener to undertake the detailed engineering of the new desalination plant. As part of its remit, Savener has also designed the project’s Gravity Filters building, described as the centerpiece of the pre-treatment process. Housed in this facility are 32 gravity filtration cells, each designed with layers of anthracite, sand, and gravel, capable of removing more than 85% of the total suspended solids (TSS) from the incoming water. This measure is key to protecting the reverse osmosis membranes and optimising the plant's operational efficiency.
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