Bahrain-based Instrata Capital, a regulated asset management firm specialising in infrastructure investments, has concluded the acquisition of a stake in Sembcorp Salalah Independent Water and Power Project (IWPP) for the Bunyah GCC Infrastructure Fund (Bunyah) from Oman Investment Corporation (OIC).
The Sembcorp Salalah IWPP is a 445 Megawatt, 15 Million Imperial Gallons per Day (MIGD) combined cycle gas turbine power and water desalination plant located in Salalah. It is currently under construction and is forecast to be completed by April 2012.
The project has been developed on a Build, Own and Operate (BOO) model, and will play an important part in meeting demand in one of Oman's key growth regions. The entire output of the project is contracted under a long-term power and water purchase agreement with Oman Power and Water Procurement Company (OPWP).
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