UAE company likely to invest $150 million on fresh water supply to Site

KARACHI (April 20 2010): A UAE-based company is likely to inject an investment of at least $150 million shortly to establish 20 mgd desalinated water and wastewater treatment and recycling plant for supply of fresh water to Sindh Industrial Trading Estates (Site) Limited, it is learnt.

According to sources, Shuaa Capital, a UAE-based firm, has shown keenness to bring an investment of $150 million to set up the desalination plant for the industries of the Site to recycle the industrial wastewater and make it useful again, which would ensure smooth supply of potable water for industrial purposes.

The desalination plant would also generate more than 50 mw electricity for the industries, which are facing very several serious problems due to the prevailing energy crisis in the country, they said. The problems of water shortages in different areas of the city would also be resolved after establishment of this desalination plant as the Karachi Water and Sewerage Board (KW&SB) would divert the water quantity of SITE Ltd to the areas facing paucity of potable water, sources added.

"Yes, Shuaa Capital is interested in bringing an investment of at least $150 million to set up 20 mgd desalinated water and wastewater treatment and recycling plant in the Site Ltd soon", confirmed Sindh Minister for Industries and Commerce Rauf Siddiqui while talking to Business Recorder.

"The shareholder of the Septech Holdings Limited - Shuaa Capital had invited me to visit their offices in the United Arab Emirates to further discuss the project opportunities in the city. I went to UAE and held a meeting with Septech's executive management team that gave briefing about the project on April 18, 2010", he added.

The meeting was also attended by the representatives of Australian Trade Commission and the World Bank (WB). The minister said he had assured the firm of all possible government co-operation to install water desalination and recycling plant for the industries of SITE Ltd, adding that the plant would be established on public-private partnership (PPP) basis.

It was also recommended that representation of SITE Ltd Board of Directors be made necessary in this project so that it could be operated successfully, he added. Siddiqui said that the firm had completed the study of the project and it would soon visit the site of the proposed project and present a demonstration of the desalination plant after which it would be formally allowed to establish the plant.

The desalination plant would fulfil the water requirement of the industries of the SITE Ltd, which would help the KW&SB to ensure supply of adequate potable water to all the city areas, he said and added that the plant would also generate its own electricity at the later stage.