Monday, Nov 12, 2012
BEIRUT (Zawya Dow Jones)--Oman's ACWA Power Barka said it has refinanced debt of $190.4 million through new non-recourse credit facilities.
The power generation and water desalination firm said in a statement posted Monday on the Muscat bourse website that it has also secured an additional non-recourse loan worth $43.1 million to finance the expansion of a water desalination facility that uses the reverse osmosis technology. The company said it has recently signed an agreement with Oman Power and Water Procurement Co. to boost the output of this facility by 10 million imperial gallons a day.
The ACWA Power Barka plant, whose major shareholder is Saudi Arabia's ACWA Power International, is located in Barka 65 kilometers north of Muscat. It has a power generation capacity of 456 megawatts and currently produces 20 million gallons a day of desalinated seawater, according to the statement.
Write to Shikrallah Nakhoul at shikrallah@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
12-11-12 0936GMT
