In April 2017, Water. Desalination + reuse (Faversham House) reported that Hyflux had topped up the capital of its Omani project company, Qurayyat Desalination SAOC. To meet financing conditions for the Qurayyat Independent Water Project, share capital rose from OMR 1.5 million to 11.5 million (about USD 29.8 million), with Hyflux Utility (Oman) paying in OMR 8.46 million (about USD 22 million). Hyflux kept 85 per cent and Modern Channels Services 15 per cent. In June 2016 the project had raised USD 185 million of non-recourse debt.
The report showed how sponsors of independent water projects in Oman tied their equity payments to the conditions set by lenders.