“To create value for stakeholders and to ensure that citizens have access to life’s most basic need – clean drinking water.”

On the back of its population growth and economic development, Oman’s daily water demand has been growing by 2% – 3% per year. Demand has been notably increasing in the metropolitan area centered on Muscat, and the Government of Oman launched multiple IWPs to address the situation. Ghubrah IWP being the first large-scale IWP in the stream, Oman Power & Water Procurement Co (OPWP) initiated a competitive bidding process in 2012. The shareholders were awarded the contract to build the Plant and hence Muscat City Desalination Company (MCDC) was established to undertake the Project.

The plant has been established under a Build, Own, Operate (BOO) scheme, which enables it to be operated beyond the Water Purchase Agreement (WPA) term of 20 years, either by extending the WPA (if agreed by OPWP), or by selling the water into the market which may exist by that time.

MODC

MODC is 100% owned by Malakoff International Limited which in turn is wholly owned by Malakoff. Malakoff, headquartered in Kuala Lumpur and listed on the Bursa Malaysia Stock Exchange with a market capitalisation of approximately US$2 billion, is the leading and largest IPP in Malaysia. Its core businesses include power generation, water desalination and operation & maintenance services. Malakoff owns an effective generation capacity of 6,346 MW in Malaysia comprising seven power stations and 690MW effective generation capacity overseas that run on coal, gas and oil and effective water production capacity of 444,800 m³/day in countries such as Saudi Arabia, Bahrain, Algeria and Oman. In addition, Malakoff owns 50% of the participating interest in the Macarthur Wind Farm which is the largest wind farm in the Southern Hemisphere.

Major shareholders of Malakoff include the Employees Provident Fund, Pilgrims Fund, Retirement Fund Incorporated and MMC Corporation Berhad that hold circa 75% of the listed entity.

In line with its growth by expansion strategy, Malakoff has been actively looking to venture further in the fast growing Middle East & North Africa region as well as the neighbouring South-East Asian markets.

In Saudi Arabia, Malakoff owns a stake in the Shuaibah IWPP which is one of the largest in the MENA region and the first IWPP in Kingdom of Saudi Arabia that delivers power and water to the cities of Makkah, Jeddah, Taif and Al-Baha. In Bahrain, Malakoff owns a stake in Hidd IWPP that supplies electricity and water to Bahrain’s Electricity & Water Authority, while in Algeria, Malakoff owns a stake in the Souk Tleta IWP which supplies water to Algeria’s national water company L’Algerienne Des Eaux and Algeria’s national oil and gas company, Sonatrach.

www.malakoff.com.my

SWMEC

SWMEC is 100% owned by Sumitomo Corporation and it is an overseas investment vehicle designated for water projects in Middle East region.

Sumitomo Corporation is one of the leading general trading & investment firms in Japan developing a multifaceted business on a global scale to respond to the diverse needs of customers. Sumitomo Corporation consists of five business units incorporating Metal Products, Transportation & Construction, Media Network, Lifestyle Related Goods & Services, Mineral Resources Energy, Chemical & Electronics and the Environment & Infrastructure. With 75,448 employees in 138 bases in 67 countries worldwide, Sumitomo Corporation’s consolidated revenue amounted to approx. JPY 7.6 trillion in FY2015. Sumitomo Corporation is listed on the Tokyo stock exchange with an estimated market cap of JPY1.7 trillion.

Sumitomo Corporation is an active player in the water industry involved not only in sea water desalination, but also in water supply and wastewater treatment projects. Sumitomo Corporation’s role in the water business includes development, financing, equity participation as well as engineering, procurement and construction and O&M aspects. Sumitomo Corporation successfully operates water projects in many countries around the world, including Oman, UK, UAE, Bahrain, China and Mexico.

www.sumitomocorp.co.jp

• • Largest operating SWRO desalination plant at a single location in Oman;

• • Well-established contractual framework with long term WPA, ensuring cash flow protection against adverse events such as buyer risk events
    and force majeure;

• • Stable and predictable cash flows, resilient to potential shocks in electricity prices and water demand until 2035;

• • Proven, long-term reliable SWRO desalination technology;

• • Experienced Project Founders with an established track record being able to transfer skills and know-how;

• • Fully operational Project operated by an experienced operator comprising of experienced and skilled operational personnel respecting highest levels of Omanisation requirements; and

• Continuous demand for water, ensuring opportunities for incremental growth in revenue after the expiration of the current off-take contract.