Presentation HWD or "Hamma Water Desalination Spa", is a Special Purpose Company (SPC) created for seawater desalination in Hamma plant in Algiers,using the Reverse Osmosis technology.
The main shareholders of HWD are:
- GE Ionics Hamma Holding, «IRE» Ltd organized and existing under the laws of the Republic of Ireland, with 70% shares in capital, and,
- « AEC » Algerian Energy Company, a Public Company, with 30% of shares.
Project financing was carried out based on the “Project Financing” principle; which means that the repayment of the loans made throughout the revenues from the commercialization of produced water.
The loan was provided by the American Financial Institution Overseas Private Investment Corporation « OPIC » at a level of 75% of project cost; the remaining 25% represents the shareholders’ contribution in the SPC capital.
