Saudi Water Partnerships Company successfully achieved financial close for Jubail-3B IWP with the participation of success partners from the relevant authorities such as the Supervisory committee at the Ministry of Environment, Water and Agriculture, developers and consultants.
Jubail-3B is an Independent Water Plant with capacity of 570 thousand cubic meters per day with total cost around SAR 2.6 billion, to be built and operated by the private sector for a period of 25 years from the Commercial Operation Date, noting that the winning consortium of the project consists of Engie, Nesma and Ajlan.
It is noteworthy that despite the current conditions and obstacles caused by the Corona pandemic (Covid-19), as this pandemic has obstructed most major projects and stopped domestic and international air traffic, the Saudi Water Partnerships Company succeeded in closing the project.
The Jubail 3B IWP plant will produce 570,000 m3/day of potable water through reverse osmosis technology to supply the Riyadh and Qassim Regions. It will also include a 60MWp capacity solar PV facility – the largest in-house solar capability for a desalination plant in the Kingdom – toReduce The cost of electricity per m3 . In addition, it will include one-day storage facilities
The CEO of SWPC, Eng. Khalid Al-Quraishi, said: “Despite the fluctuations, liquidity crises and changing global market conditions, the Saudi Water Partnerships Company succeeded in completing the financial closure in close cooperation with the consortium and the group of lenders, which indicates the company’s efforts to provide full support for investment projects, and to enhance private sector participation in sustainable development by providing the opportunity for local and foreign investors to participate in the implementation of these projects, thus achieving sustainable development, providing job opportunities for young people, and supporting local content and balanced development, in order to achieve the strategic objectives contained in “Saudi Arabia’s vision 2030” and the initiatives approved by the Saudi Council of Ministers to encourage private sector participation in economic development initiatives”.
Al-Quraishi added “Reaching this stage in the project and starting construction works under such difficult circumstances is a complete indication of investor confidence in the investment environment in the Kingdom of Saudi Arabia and the suitability of the investment environment for the private sector.”
