GS Inima has kicked off a 2.4 trillion won seawater desalination project in Oman, the water treatment firm’s parent company GS E&C said Tuesday.

GS E&C said it signed contracts to raise a combined $130 million for the Barka 5 (IWP) project, ordered by Oman Power & Water Procurement Company.

The Korean firm plans to borrow 70 percent of the money from the Export-Import Bank of Korea and financial institutions in Oman.

The remaining 30 percent will be borrowed from Hana Bank, based on their bridge loan agreement.