Madrid, February 4, 2020.- COFIDES has supported Sacyr with the concession of a desalination plant in Sohat, Oman. The implementation of this project equates to a total investment of around 205 million dollars.
COFIDES has provided Sacyr with 16.1 million euros shouldered by FIEX and its own resources via an investment loan. This amount contributes to co-financing the investment made by the company to build a highly efficient desalination plant with a capacity for 250,000 m3/d in drinkable water production, located in the industrial port area of Sohar. The inverse osmosis technology used allows for energy to be recovered in order to optimise consumption.
Sacyr Agua was awarded the tender for the construction, finance, operation and maintenance of this plant with the aim of increasing the water production capacity in different areas around the country.
This is COFIDES’ first project in Oman. In recent years, the country has promoted the modernisation and extension of its transport infrastructure network, industrial development as well as its tourism, mining, logistics and fishing industries.
CLIMATE CHANGE ADAPTATION PROJECT
The project contributes to SDG 6 (Clean water and sanitation), SDG 9 (Industry, innovation and infrastructure) and 13 (Climate action). It is within of the Omani approach to the 2015 National Determined Contributions to fulfil the aims of the Paris Agreement. More specifically, this project involves an adaptation measure for climate change against the increased need for drinking water in the whole country, and it provides access for around 220,000 people to this basic commodity.
COFIDES’ chairman, José Luis Curbelo, stated that “it is very important to implement projects that will contribute to limiting the effects of climate change”. On this, “it is essential to support the private sector which, with its technology, ideas and innovation, contribute to leading projects like this one in adapting to climate change”.
Sacyr, S.A. is a multinational infrastructure and services company. It operates within different areas: engineering and infrastructures, concessions, services and industry. It has presence in more than thirty countries across the five continents working through its subsidiaries.
COFIDES is a state-owned company which has been offering financial support to Spanish companies investing abroad since 1988. It is accredited with the EU to manage Community budgets, allowing it to structure transactions with a high impact on development. It is also accredited with the UN’s Green Climate Fund and can structure operations on climate change mitigation and adaptation with the GCF. It is the exclusive manager of FIEX and FONPYME funds on behalf of the Secretariat of State for Trade attached to the Ministry of Industry, Trade and Tourism and supports AECID in managing FONPRODE funds. Shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF-Development Bank of Latin America.
