In February 2001, WDR reported that the Ghana Water Company had awarded a contract to supply a 60,000 m3/d (16 MGD) SWRO project to Spain’s Abengoa, which then operated its desal business under the brand name of “Befesa”. Last month, Daye Water Investment (Ghana) BV, a Dutch subsidiary of Japan’s Sojitz Group said that it would also participate, taking a 44 percent ownership in the 25-year BOOT project for Accra’s Teshie-Nungua suburb.
The new partnership announced last week that the $125 million project has now received project financing support from the Multilateral Investment Guarantee Agency (MIGA). MIGA is the political risk insurance arm of the World Bank, which promotes foreign direct investment into developing countries by providing private sector investors with political risk insurance guarantees. The coverage mitigates the risks of transfer restriction, expropriation, breach of contract, war and civil disturbance.
Construction could start later this month, and the plant is projected to be operational in 2014.