On 7 January 2006, the Ministry of National Economy issued to potential bidders a request for proposal for the development of desalination facilities at Sur in the Sharqiyah region of the Sultanate of Oman on a build, own and operate (BOO) basis. The proposal included the purchase of the existing plant already at the location (with a capacity of about 2.66 MIGD) and the construction of a new desalination plant, with aggregate capacity of 17.66 MIGD using reverse osmosis technology for desalination.
The consortium comprising Veolia Eau-Compagnie Generale des Eaux, National Power and Water LLC and Veolia Water AMI have been awarded and on 14 January 2007 they incorporated Sharqiyah Desalination Company to implement the project.
The Project Founder Agreement requires the Founders to float the Shares on the MSM through an IPO offering 35% of the share capital of the Company to the public. Following the IPO the Company will convert from an SAOC to an SAOG.
On 10 July 2014, Oman Power and Water Procurement Co. SAOC and the Company entered into an Amended and Restated Water Purchase Agreement to build a new desalination plant adjacent to the Company’s existing plant. Post plant expansion the combined plant capacity will be increased from 17.66 MIGD to 29 MIGD.
25 March 2015 – Refinancing and financial close of the expansion
25 December 2014 – Signature of all the expansion project documents
10 July 2014 – Signature of the amended and restated WPA
30 June 2013 – Listing on Muscat Securities Market (MSM)
8 October 2009 – Commercial Operation Date of the Initial Project
15 May 2007 – Financial Close of the Initial Project
17 January 2007 – Execution of the Existing WPA between SDC and MHEW
14 January 2007 – Incorporation of SDC
7 January 2006 – Bid award of the Initial Project to the Original Founder
Listing of SDC on the MSM - an important milestone
Veolia Water Middle East (VWME) – 35.75%
National Power & Water (NPW) – 29.25%
Veolia Eau – 1 share
Public – 35%
Azaliya S.A.S. – 55%
National Power & Water (NPW) – 45%
Veolia Eau – 1 share