“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 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.
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.
Bachelor’s Degree in Mechanical Engineering and a Master’s Degree in Business Administration from Istanbul Technical University. Over 18 years of experience in the field of international power and water business development.
Chief Executive Officer of Malakoff Corporation Berhad since 1 October 2017. Holds a degree in Computerised Accountancy from the University of East Anglia, United Kingdom and a Business and Technology Education Council (BTEC) National Diploma in Business and Finance, United Kingdom. He is a Fellow of the Association of Chartered Certified Accountants (ACCA) and a member of Malaysian Institute of Certified Public Accountants (MICPA) and the Malaysian Institute of Accountants since year 2000. Was a board member of key subsidiaries of the DRB-HICOM Berhad Group such as Pos Malaysia Berhad, Bank Muamalat Malaysia Berhad, Edaran Otomobil Nasional Berhad, Horsedale Development Berhad, Glenmarie Properties Sdn Bhd and Alam Flora Sdn Bhd. Is currently a member of the Board of a number of companies related to Malakoff Corporation Berhad.
Sultan Al Ghaithi holds a bachelor’s degree in mechanical engineering and master’s degree in industrial engineering. With over 19 years in the Exploration and Production sector, he has accumulated a wealth of operational and managerial experience. Sultan began his career with Petroleum Development Oman where he started as a Well Engineer. He then moved to Weatherford International in the role of Country and Area Manager in Oman, Qatar, Bahrain and Yemen. Sultan leads Ara Petroleum LLC as Chief Executive Officer. He is also responsible for two subsidiary E&P companies operating in Oman and serves as a board member of Aminex Plc in London.
Mr. Ajeev Gopinathan has Bachelor’s Degree in Polymer Engineering and Master’s Degree in Business Administration from Mahatma Gandhi University, India. He is a seasoned professional with more than 16 years of experience in managing multi-asset class investments. Currently he is working as Senior Investment Specialist at Diwan of Royal Court Pension Fund.
Mr.Kei Nakamura has a degree in Commerce from Keio University, Japan. With close to three decades of experience in various disciplines, across the world, he brings expertise in diverse areas, some of which include trade of machinery & infrastructure, EPC Projects related to district heating and cooling plants, co-generation plants, and water-related business.
He obtained a Degree in Accounting & Finance from De Montfort University, United Kingdom and is a Fellow member of the Association of the Chartered Certified Accountants, United Kingdom. He is also a Member of the Malaysian Institute of Accountants. He joined as the Chief Financial Officer of Malakoff Corporation Berhad on 1 December 2017. He has over 20 years of experience in accounting, financial management, taxation, treasury and corporate finance.
He is Chartered Accountant from India with over 30 years experience primarily in the power and infrastructure sector. He Was Group CFO of Electricity Holding Company, Oman and Board member of Oman Power & Water Procurement Company.
Bachelor’s Degree in Chemical Engineering from the University Technology Malaysia. In a career spanning over 23 years in Malakoff, she has worked her way up the ladder after starting her career at Malakoff in 1994 as a Project Executive in the Technical Services and quality assurance department. She was also involved in the commercial review and negotiations for Malakoff’s business development initiatives in power and water projects in Asia and the Middle East region. Her most recent portfolio of achievements includes being the Project Director for the Ghubrah Independent Water Plant in Oman and the Commercial Lead of the 1000MW coal fired power plant in Malaysia.
Mr Kamarulzaman Bin Sulaiman joins the Company with over 10 years’ experience within energy and utility industries. His key experience is in management accounting and investment management. He obtained a Degree in Accounting & Finance from the University of Lancaster, United Kingdom and a Fellow of the Association of Chartered Certified Accountants (“FCCA”) United Kingdom. He is also a Member of Malaysian Institute of Accountants.
Mr. Ahmed Al Shereiqi joined Muscat City Desalination Company in March 2013. He has more than 10 years of multi-discipline work experiences acquired mainly in administration, public relation, and operations. Mr. Ahmed Al Shereiqi obtained his Bachelor of Science in Engineering (Mechatronics) from Caledonian College of Engineering in 2015. He had spent several years at Modern Liberty Services LLC, Derat Al-Sahra International LLC and Abu Sameer LLC handling trading and construction activities. In his current position, he has been liaising with the project stakeholders and proactively assisting the day to day operation activities within the Plant to fulfill the client expectation in water production and demand.
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.
Water is crucial to sustaining life, supporting economic prosperity and growth, and contributing to a better quality of life, particularly in the face of a growing population in the case of Sultanate of Oman.
MCDC endeavours to be socially accountable and responsible in strict compliance to environmental aspects.