The Consortium lead by Marafiq (Power and Water Utility Company for Jubail and Yanbu) announces the financial closure of Jeddah Airport 2 ISTP (Independent Sewage Treatment Plant) Project.
Earlier, During December 2019, the Project’s Water Purchase Agreement (WPA) was signed by Saudi Water Partnership Company (SWPC) with the consortium of Marafiq, Veolia, and Amwal AlKhaleejiah under the Build, Own, Operate and Transfer (BOOT) model. The project will be developed under a 25-year Public-Private Partnership (PPP) model.
The approximate value of the project is $280 million.
The Project have been structured as non-recourse project finance, with funding sourced from a combination of senior project finance loans by the National Commercial Bank (NCB) and equity contributions from shareholders.
The consortium has also establishing a Saudi-based company to serve the project, the Jeddah Althaniya Water company, which will operate the plant for 25 years as part of an exemplary partnership between the public and private sectors.
Under the terms of the project, the developer’s scope of work includes development, financing, engineering, procurement, construction, implementation, ownership, operation, maintenance, and transfer of the Jeddah Airport 2 ISTP (Independent Sewage Treatment Plant).
The plant will be designed to treat 300,000 Cu.m/day expandable to 500,000 Cu.m/day of wastewater treatment. The commercial operation of the project is expected to be in January 2023.
India’s VA Tech Wabag Limited will execute the EPC works of the project. The contract was awarded by Main EPC, Saudi Arabia’s Saudi Services for Electro-Mechanical Works Company (SSEM). The value of the project is $48 million (read more)
Read Also: Saudi Arabia’s Dammam ISTP reaches financial closing
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