GS Inima
GS Inima is a Madrid-headquartered global water infrastructure operator delivering desalination, wastewater treatment, drinking water, industrial water, and renewable energy solutions across 10 countries via long-term government concessions (20-25 years) and EPC contracts.
- Company typePrivate
- Founded1960
- HeadquartersMadrid, Spain
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What GS Inima does
GS Inima Environment, S.A.U. is a Madrid-headquartered water infrastructure operator with over 60 years of experience in the water sector, delivering integrated solutions across the full water cycle — desalination (reverse osmosis), wastewater treatment, drinking water treatment, industrial water management, integral water cycle management, and photovoltaic renewable energy. The company's installed base includes 171 MIGD of desalination capacity, 2.6 million m³/day of wastewater treatment capacity, and 50 active projects across 10 countries spanning Spain, Portugal, Brazil, Mexico, Chile, USA, Oman, UAE, Algeria, Tunisia, and South Korea. Technology differentiation rests on proprietary systems including the B.E.S.T. pre-treatment (an XPRIZE Water Scarcity Track A semifinalist), the Programox energy/resource recovery plant, and a real-time intelligent discharge detection system developed in partnership with AQUACORP for digitalization of the integrated water cycle.
The business model centers on long-term government concessions (20-25 year terms) complemented by EPC project delivery and recurring operation & maintenance revenue. Concession contracts represent 96% of the company's EUR 10.44 billion (2024) backlog, providing over two decades of revenue visibility. The company generated EUR 389 million in 2024 revenue (+11% YoY), EUR 106 million EBITDA (27%+ margin), and a record EUR 38 million net profit, with 2025 turnover projected to exceed EUR 500 million. Customers are predominantly sovereign and municipal — including Nama Power and Water Procurement (Oman), Águas do Algarve and the Portuguese Environmental Agency, CESAN (Brazil), and Spanish municipal consortia — alongside a developing industrial water reuse base led by a Vale partnership in Brazil. Distribution is via competitive tenders and PPP consortia with regional partners (Aljomaih in Saudi Arabia, SOGEX in Oman, Aquapor in Portugal, SAID in Brazil).
In August 2025, TAQA (Abu Dhabi National Energy Company, 90% UAE government-owned) signed an agreement to acquire 100% of GS Inima from GS Engineering & Construction for approximately USD 1.2 billion, with closing expected in 2026. The transaction positions GS Inima within TAQA's global water platform while preserving operational independence, and follows the company's BBB-/Stable investment grade rating from Scope Ratings. The portfolio is increasingly diversified across geographies and into adjacent verticals — solar PV generation (El Fenazar 30.12 MWp in Spain, Boco Solar 8.7 MWp in Chile), industrial water reuse (Vale), and microplastics capture (Captoplastic alliance).
GS Inima firmographics
Firmographics- Name
- GS Inima
- Legal name
- GS Inima Environment, S.A.U.
- Website
- https://inima.com
- Company type
- Private
- Founded year
- 1960
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- GS Inima is a Madrid-headquartered global water infrastructure operator delivering desalination, wastewater treatment, drinking water, industrial water, and renewable energy solutions across 10 countries via long-term government concessions (20-25 years) and EPC contracts.
- Ownership category
- akta.pro rank
GS Inima industry classification
Industry- Product category
- Water Treatment and Desalination Services
- NAICS
- Water Supply and Irrigation Systems (221310), Water Supply and Irrigation Systems (22131), Solar Electric Power Generation (221114)
- SIC
- Water Supply (4941), Water, Sewer, Pipeline, Comm & Power Line Construction (1623)
- akta.pro primary industry
- Desalination Plant EPC, O&M & Performance Optimization (EUANAFAK)
- akta.pro secondary industries
- Construction Management & Delivery (EPCM/CMAR/Design-Build Oversight) (EUANALAE), Water Supply & Wastewater Utilities Administration (BPAIACAG), Energy & Water Efficiency Programs (Corporate Resource Management) (EUAHAJAG)
Keywords
Where GS Inima is headquartered
LocationHeadquarters
- HQ city
- Madrid
- HQ country
- Spain
- HQ region
- Europe
Offices2 records
Markets served
GS Inima business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain
Revenue model
- Concession Contracts: Long-term concession contracts (typically 20-25 years) for water and sanitation services providing recurring, stable cash flows. These contracts represent 96% of the company's backlog and guarantee revenue generation for over 20 years with low risk profiles.
- EPC (Engineering, Procurement, Construction): Design, construction, and commissioning of water treatment and desalination plants. Revenue recognized through project execution, including Barka V (EUR 128 million), Ghubrah III (USD 370 million), and other plant projects.
- Operation and Maintenance Services: Ongoing operation and maintenance contracts for desalination plants, wastewater treatment facilities, and water supply systems. These provide recurring revenue streams from existing installed base.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels7 records
GS Inima product offering
Product offeringCore offering
GS Inima provides integrated water cycle management services including desalination (seawater reverse osmosis), wastewater treatment, drinking water treatment, industrial water management, and photovoltaic renewable energy. The company operates across the entire project lifecycle from financing, engineering, procurement, construction (EPC) through long-term operation and maintenance under concession contracts typically spanning 20-25 years with government and municipal clients.
Product overview
GS Inima is a global leader in sustainable water and environmental services, operating through six integrated business lines: Desalination (seawater and brackish water reverse osmosis), Wastewater Treatment, Drinking Water Treatment, Industrial Water Management, Integral Water Cycle Management, and Photovoltaic Renewable Energy. The company acts across all project phases from financing and engineering through construction, operation and maintenance. Key facilities include the Barka V Desalination Plant (100,000 m³/day in Oman), Ghubrah III Desalination Plant (300,000 m³/day in Oman), Boco Solar (8.7 MWp in Chile), El Fenazar solar park (30.12 MWp in Spain), and the Riberão Preto wastewater treatment system in Brazil.
Differentiator
Problem solved
Functional benefit
Brands
- Espírito Santo Saneamento: Water and sanitation public-private partnership managing services in 35 municipalities in Espírito Santo state, Brazil
- GS Inima Brasil
Products and services
- Desalination (Desalación)
Quantifiable outcome
- Record profit of EUR 38 million in 2024 (10% of turnover), up from previous years
- +4 more outcomes
Companies that use GS Inima
Customer profileNamed customers8 records
Segments3 records
Ideal customer profiles3 records
GS Inima technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature3 records
GS Inima partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core, flagship and regional.
- CaptoplasticcoreStrategic alliance to advance microplastics capture and measurement in the water cycle. Collaboration reinforces both companies' commitment to environmental protection and development of innovative solutions to meet regulatory challenges associated with microplastic pollutants.
- ValecorePartnership with Vale and CESAN for water reuse project in Vitória, Brazil. MoU signed to study supply of recycled water from Greater Vitória WWTP to Vale's Tubarão Unit. Estimated investment EUR 43.2 million (BRL 250 million), operations starting 2027.
- CESAN (Companhia Espírito-Santense de Saneamento)flagshipPartnership for 24-year sanitation concession in Espírito Santo, Brazil. GS Inima Brasil to manage wastewater collection and treatment in 35 municipalities, benefiting over 700,000 people. Historic investment plan consolidating company's leading position in Brazil.
- Nama Power and Water ProcurementflagshipClient for Barka V desalination plant (100,000 m³/day, EUR 128 million investment) and Ghubrah III project (300,000 m³/day) in Oman. Government of Oman entity responsible for power and water desalination project procurement. Plants delivered ahead of schedule with strong safety records.
- AQUACORPcoreTechnology partnership for real-time intelligent discharge detection and characterization system for digitalization of the integrated water cycle. Pioneering solution for wastewater management.
- Aljomaih Energy and Water CompanycorePartnership for Ghubrah III desalination project in Oman with 52% GS Inima, 24% Aljomaih, 24% SOGEX Oman. Saudi Arabian leading investor, developer, and operator of utility and infrastructure projects. USD 370 million project financing secured from international and local banks including KEXIM, Standard Chartered, and Bank Dhofar.
- SOGEX OmancorePartnership for Ghubrah III desalination project in Oman with 52% GS Inima, 24% Aljomaih, 24% SOGEX Oman. Omani company that contributed remarkably in the development of Sultanate of Oman, playing critical role in liaising with government agencies, financial institutions, and key ministries.
- SAID (Constructora SAID)regionalConsortium partner (80% GS Inima, 20% SAID) for Brodowski sanitation concession in São Paulo, Brazil. Concession valued at EUR 11.2 million (BRL 69.6 million), benefiting over 25,000 inhabitants.
- Mancomunidad de La SagraregionalPartnership for expansion and modernization of Illescas-Yuncos-Numancia de la Sagra WWTP in Spain. EUR 5+ million investment, increasing capacity from 7,440 to 15,000 m³/day. Includes installation of 500 kW photovoltaic system and circular economy practices.
- AquaporcoreGS Inima led-consortium with Aquapor and Luságua signed EUR 107 million agreement with Águas do Algarve for design, construction, and operation of Portugal's first seawater desalination plant in Algarve.
Scale indicators12 records
Recent moves6 records
Expansion highlights7 records
GS Inima competitors and assessment
Company assessmentDirect peers
- Acciona Agua: Acciona's water division operates desalination plants (reverse osmosis) and water treatment concessions worldwide — directly comparable to GS Inima in EPC, O&M, and PPP concession models across MENA, LATAM, and Iberia.
- Aqualia (FCC Environment): Spanish-headquartered water utility (FCC subsidiary) operating municipal concessions and treatment plants across Spain, LATAM, and MENA — direct Spanish competitor to GS Inima in concession management and integrated water services.
- Cadagua (OHL/Veltha): Spanish EPC contractor and operator of water treatment and desalination plants with strong presence in Iberia, MENA, and LATAM. Closely comparable in size, scope, and concession/EPC dual model to GS Inima.
- Tedagua: Spanish water EPC and concession company (SENER/ACS group) building and operating desalination and wastewater plants internationally — directly comparable to GS Inima in EPC delivery and PPP concessions, particularly in MENA and LATAM.
- IDE Technologies: Israeli desalination and water treatment specialist with proprietary thermal and RO technologies; comparable to GS Inima as a focused desalination EPC and O&M player serving municipal and industrial customers in water-stressed regions.
- Metito: UAE-headquartered water and wastewater treatment company with EPC, O&M, and concession operations across MENA, Africa, and Asia. Directly comparable to GS Inima in regional focus, EPC delivery, and integrated water cycle services.
Broad incumbents
- SUEZ: Global water utility and treatment giant with municipal concessions and EPC capabilities across Europe, MENA, and Asia. Overlaps with GS Inima in desalination EPC, wastewater treatment, and concession operations, but at much larger scale and broader portfolio.
- Veolia: World's largest water and wastewater services group with concession and O&M contracts globally. Comparable in integrated water cycle management and municipal PPPs, though substantially larger and more diversified than GS Inima.
- ACWA Power: Saudi-listed developer, investor, and operator of power and desalination plants including major SWRO projects in MENA. Comparable to GS Inima on large-scale desalination EPC and concession assets, with state-backing scale advantage.
Regional players
- Befesa: European environmental services group with water and waste management activities; comparable in environmental infrastructure services and concession experience, though with primary focus on recycling rather than desalination.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
GS Inima social profiles
Digital presenceGS Inima financial estimates
Financial estimateRevenue estimate
Valuation estimate
GS Inima leadership team
Management profileNumber of profiles
Profiles6 records
GS Inima subsidiaries and ownership
Company hierarchySubsidiaries2 records
GS Inima funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
GS Inima M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about GS Inima
What does GS Inima do?
GS Inima provides integrated water cycle management services including desalination (seawater reverse osmosis), wastewater treatment, drinking water treatment, industrial water management, and photovoltaic renewable energy. The company operates across the entire project lifecycle from financing, engineering, procurement, construction (EPC) through long-term operation and maintenance under concession contracts typically spanning 20-25 years with government and municipal clients.
Is GS Inima a public or private company?
GS Inima is a private company. It is classified as corporate owned and is currently operating.
When was GS Inima founded?
GS Inima was founded in 1960. It employs 1,001 to 5,000 people.
Where is GS Inima based?
GS Inima is headquartered in Madrid, Spain, in the Europe region.
How does GS Inima make money?
Three revenue lines are on record. Concession Contracts are the primary driver. The others are EPC (Engineering, Procurement, Construction) and operation and Maintenance Services.
Who are GS Inima's main competitors?
Direct peers on record are Acciona Agua, Aqualia (FCC Environment), Cadagua (OHL/Veltha), Tedagua, IDE Technologies and Metito. Broad incumbents are SUEZ, Veolia and ACWA Power. Befesa is listed as a regional player.
Does GS Inima have an API?
No public API is recorded for GS Inima.
What industry is GS Inima in?
GS Inima's product category is Water Treatment and Desalination Services. Its primary akta.pro industry code is EUANAFAK, Desalination Plant EPC, O&M & Performance Optimization, with a secondary code of EUANALAE, Construction Management & Delivery (EPCM/CMAR/Design-Build Oversight). Its NAICS code is 221310 and its SIC code is 4941.