Sembcorp Industries rebuts reports of damage to UAE power, water plants from Iranian strikes
In Singapore, gas supply stays ‘secure’, with no near-term disruptions anticipated
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[SINGAPORE] Sembcorp Industries on Monday (Mar 9) rejected media reports that its UAE’s Fujairah F1 power and water plant had suffered damage from Iranian missiles.
Located in the Emirate of Fujairah, the Fujairah F1 Independent Water and Power Plant (IWPP) is 40 per cent-owned by the group.
Sembcorp Industries also operates the Salalah IWPP and the Manah II Solar Independent Power Project, both located in Oman.
“Operations in all three facilities are currently continuing but as the events are evolving, Sembcorp continues to monitor the situation closely. All of Sembcorp’s employees are safe currently,” it said in a Monday morning statement.
Contingency measures are in place at the facilities, and the safety and well-being of Sembcorp’s employees remain its “top priority”, as the company maintains operational stability, said the group.
Sembcorp’s statement comes after an article in Global Water Intelligence suggested such damage, which was picked up by various media such as the South China Morning Post and The Straits Times.
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According to a DBS research report last week, Oman and the UAE contributed 8 per cent of the group’s net earnings, which dipped 5 per cent in the second half to S$448 million.
DBS said Sembcorp has no scheduled LNG cargoes from Qatar over the next four to five months, so its supply should not be disrupted.
In its statement, Sembcorp said it can leverage its portfolio of long-term natural gas supply contracts across both piped and liquefied sources.
This is because the group’s supply arrangements draw from multiple global origins, and the company’s upcoming liquefied natural gas cargo deliveries scheduled for 2026 are not from the Middle East.
Renewable energy and energy storage solutions are a part of the company’s broader portfolio.
Shares in Sembcorp Industries ended 0.7 per cent or S$0.04 higher at S$5.72 on Friday.
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