Saudi Arabia’s Saline Water Conversion Corporation (SWCC) announced in a statement that, it has completed the procedures for qualifying the consortiums of national and international companies for the privatization of the existing Ras Al-Khair (RAK) Integrated desalination and power plant.
The following shortlisted firms will be invited for the bidding process of the project.
- Engie, France
- Marubeni, Japan
- China Power International Holding Ltd, China/Ajlan & Bros Energy, Saudi Arabia Consortium
- ACWA Power, Saudi Arabia
- Jera, Japan
- NTPC, India
- Asian Strategic Consortium (undisclosed)
The winning consortium will form a special purpose vehicle (SPV) company and will own 60% of stake in terms of management, operation and maintenance of the plant.
Earlier, during July 2020, SWCC received expression of interest from 37 firms (read more).
RAK has been selected as the first asset for privatization as part of the larger privatization of SWCC’s production assets, which is overseen by the Privatization Supervisory Committee for the water sector of Saudi Arabia.
The Ras Al-Khair plant, which began production in 2015, has current operating desalination capacity of 1.05 million cubic meters per day in addition to generating electricity with a capacity of 2,650 MW. The plant utilizes a hybrid-configuration of multi-stage flash thermal desalination and reverse osmosis membrane technology.
SWCC appointed France’s BNP Paribas as the lead and financial adviser for the planned privatization in October 2017. SWCC is also being adviser by Atkins, technical adviser, Ernst & Young, accounting adviser and Clifford Chance and the local Abuhimed Alsheikh Alhagbani law firm (AS&H) as legal advisers.
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