Abu Dhabi National Energy Company PSJC (TAQA), UAE announces its participation in the winning consortium for the Juranah Independent Strategic Water Reservoir Project (ISWR-1) in the Makkah region, Saudi Arabia. The consortium, which also includes Vision International Investment Company (Vision Invest) and Gulf Investment Corporation (GIC), has signed the relevant project agreements with the procurer Saudi Water Partnership Company (SWPC).
The Juranah ISWR-1 Project is the first of its kind in the Kingdom of Saudi Arabia under a BOOT (Build, Own, Operate, Transfer) model, reflecting active private sector involvement in essential water infrastructure development. TAQA will be the lead member for the operations and maintenance (O&M) activities through a specialized standalone O&M company, which will be co-owned by Vision Invest.
The total project cost is estimated at AED 1.5bn, with debt funding expected to account for approximately 80%. TAQA is taking a 35% share in the project company and a 50% stake in the O&M company.
To mark the occasion, a signing ceremony was held in Riyadh on 31 December 2023 in the presence of His Excellency the Minister of Environment, Water, and Agriculture of the Kingdom of Saudi Arabia, Abdulrahman Al-Fadley.
Under the terms of the project, the consortium will be responsible for building, owning, and operating the water reservoir infrastructure for 30 years before transferring the ownership to SWPC. The project’s primary objective is to respond to emergency municipal water demand for all the Kingdom’s regions and to peak demand in Makkah and Madinah during the Hajj season. The strategic tanks have a total storage capacity of 2,000,000 m3. Additionally, operational tanks with a capacity of 500,000 m3 will be developed under a DBT (Design, Built, Transfer) model to support the potable water distribution system.
This landmark project is a testament to the collaborative efforts of Vision Invest, Gulf Investment Corporation G.S.C, and TAQA. By integrating cutting-edge technology and sustainable practices, the consortium aims to ensure reliable and efficient water supply for the region.
