The plant at the second-largest port in northern China in Shandong province will produce 100,000 cubic meters of drinking water a day from seawater, enough to supply the needs of a half- million people, Abengoa said today in a statement.
Abengoa began building the plant in 2010 and will operate and maintain it for 25 years. During this time, the company is forecasting revenue of at least 750 million euros ($1 billion) from the sale of water and a further 25 million euros from technical support operations, according to the statement.
The project, the first desalination one of its type carried out using a project-finance structure entirely financed by local Chinese banks, required a total investment of 135 million euros, according to the statement.
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