Malakoff Corporation Bhd (Malakoff) has signed financing agreements for the supply of 42 million imperial gallons of
water per day from Al Ghubrah, an independent water desalination project in Oman, which is expected to be completed by October next year.

Malakoff obtained the financing from the Bank of Tokyo-Mitsubishi UFJ Ltd, Sumitomo Mitsui Banking Corporation and Japan Bank for International Cooperation.

Malakoff chief executive officer Zainal Abidin Jalil said the company achieved another significant milestone in expanding its presence to position itself as a leading independent water and power producer in the international market.

"This has certainly put Malakoff in a stronger position to pursue more opportunities in the Middle East and North Africa region," he said in a statement today.

Zainal Abidin said Malakoff's wholly-owned susbsidiary, Malakoff
International Ltd, led consortium companies like Sumitomo Corporation of Japan and Cadagua S.A. of Spain to undertake construction of the water production facility.

Malakoff had recently entered into the Australian Renewable Energy market by acquiring a 50 per cent interest in a 420 Megawatt wind farm in southern Hemisphere, Australia.

Malakoff, a subsidiary of MMC Corporation Bhd, is an independent water and power producer, with core focus on power generation, water desalination and operations and maintenance services.-- Bernama