Oman Power and Water Procurement Co, which arranges power generation and water desalination capacity in the sultanate, will sign agreements this week for a 115 million rial ($300 million) water project, the company said on Tuesday. Japan's Itochu Corp will hold 36 percent of the project, French firms Suez Environment and Engie will each hold 27 percent, and local company W.J. Towell & Co. will hold 10 percent. The contracts for the Barka Independent Water Project, due to begin operating by January 2018, will cover the design, construction, ownership and operation of reverse osmosis desalination facilities producing 281,000 cubic metres per day of drinking water. (Reuters)