Adventurous investment company PSG Group has not had to wait long for its investment in GrahamTek, a desalination and water purification company, to start paying off. On Tuesday GrahamTek confirmed it had clinched a R5bn contract to build a desalination plant in Saudi Arabia. This is the first major deal to be clinched by GrahamTek since PSG’s 53%-held subsidiary Energy Partners acquired a controlling stake in the Strand-based water services specialist for an undisclosed sum in October 2017. Energy Partners, a sustainable energy solutions specialist, is one of PSG’s largest unlisted investments held under its PSG Alpha umbrella. Energy Partners, which has grown rapidly in the past five years, has also been tipped for a JSE listing. The company said the contract involved designing, building and operating a desalination plant for The Saline Water Conversion Corporation (SWCC). SWCC controls about 40% of the world’s desalination plants and owns and operates 27 plants in Saudi Arabia. T...
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