PwC appointed financial advisers for new Salalah power project
Friday, 20 July 2012 07:10
PricewaterhouseCoopers (PwC) has won a contract from Oman Power and Water Procurement (OPWP) to provide financial advisory services for an independent power project planned in Salalah, Oman
The state-owned power and water offtaker has also confirmed international engineering and consultancy services firm Fichtner as the technical adviser for the US$1 billion power project, while multinational law firm DLA Piper has been awarded the project's legal advisory services contract.
The three firms will advise OPWP on an international competitive process that will lead to the development of the second privately-funded power project in Oman's southern Dhofar region.
Acceptance tests at the site were recently completed, with the finished site ready to start producing 490MW of output, together with a desalination water capacity of 15 million gallons per day. The plant will play a key role in meeting rising power and water demand in Dhofar region.
The site is 60 per cent owned by Singapore-based Sembcorp's subsidiary Sembcorp Utilities, with Oman Investment Corporation and Instrata Capital sharing the remaining 40 per cent. Sembcorp also holds a majority holding in Sembcorp Salalah Operations & Maintenance Services who will operate the plant.