Qurayyat Desalination SAOC, a subsidiary of water company Hyflux, has achieved financial close for the non-recourse project financing of Qurayyat Independent Water Project (IWP).
In a statement on Tuesday, Hyflux says the US$185 million ($251 million) facility is an “innovative fixed-to-floating rate term loan”. The facility is provided by Mizuho, Standard Chartered, Dubai International Financial Centre Branch and Singapore-based Clifford Capital.
Qurayyat IWP is a seawater reverse osmosis desalination plant located in Qurayyat, in the Muscat governorate. Under the water purchase agreement, desalinated water from the project is to be supplied to Oman Power and Water Procurement Company SAOC from 2017 to 2037.
This marks the Hyflux’s largest desalination project in the Sultanate of Oman to date, and will add another 200,000 cubic metres of drinking water per day to the country’s water supply.
In 2015, Qurayyat IWP was named Best Water Deal Award at the annual EMEA Finance’s project finance awards.
Hyflux closed 3.48% higher at 60 cents on Tuesday.
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In a statement on Tuesday, Hyflux says the US$185 million ($251 million) facility is an “innovative fixed-to-floating rate term loan”. The facility is provided by Mizuho, Standard Chartered, Dubai International Financial Centre Branch and Singapore-based Clifford Capital.
Qurayyat IWP is a seawater reverse osmosis desalination plant located in Qurayyat, in the Muscat governorate. Under the water purchase agreement, desalinated water from the project is to be supplied to Oman Power and Water Procurement Company SAOC from 2017 to 2037.
This marks the Hyflux’s largest desalination project in the Sultanate of Oman to date, and will add another 200,000 cubic metres of drinking water per day to the country’s water supply.
In 2015, Qurayyat IWP was named Best Water Deal Award at the annual EMEA Finance’s project finance awards.
Hyflux closed 3.48% higher at 60 cents on Tuesday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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