Oman Power and Water Procurement Company (OPWP) has signed agreements with consortia led by Japan’s Itochu and Spain’s Valoriza Agua for the development and operation of desalination plants at Barka and Sohar on Oman’s northern coast.

OPWP estimates the cost of Barka Phase 4 at OR115mn ($300mn). Barka will be financed by Japan’s Bank of Tokyo-Mitsubishi, BTMU, Germany’s KfW IPEX-Bank, French bank Crédit Agricole and Japan’s Sumitomo Mitsui Banking Corporation, while local banks are financing Sohar, specialist weekly Project Finance International says. (CONTINUED - 286 WORDS)