A $1.86 billion seawater desalination project in Oman overseen by GS Engineering & Construction subsidiary GS Inima has kicked off, officials said Monday.
GS Engineering & Construction has signed financing documents for GS Inima’s project to build a Barka 5 Independent Water Plant in Oman, a deal reached with Oman Power & Water Procurement Co. in 2020, the company said.
Of the $130 million that will be needed for building the plant, GS E&C will be procuring 70 percent of the expenses from the Export-Import Bank of Korea, and 30 percent from KEB Hana Bank, the company said.