SWPC achieves financial closure of Jubail-3B plant at SAR 2.6 bln

Logo of Saudi Water Partnership Co.

Saudi Water Partnership Co. (SWPC) achieved the financial closure for Jubail-3B independent water plant (IWP) with a production capacity of 570,000 cubic meters per day at a total cost SAR 2.6 billion. The plant will be built and operated by the private sector for a period of 25 years from the commercial operation date.
 

Despite the current challenges, SWPC said that the winning consortium of the project comprises France’s Engie, with local companies Nesma and Alajlan, the state-run SPA reported, citing a company statement. 

Khalid AlQureshi, CEO of SWPC, said despite the liquidity crunches and global market conditions, the company succeeded in the financial closure of the project, thanks to its close cooperation with the winning consortium and the financing group.

The beginning of the project construction despite these challenges reflects investor confidence in the Kingdom, AlQureshi added.

The Jubail 3B IWP, a reverse osmosis desalination plant, will serve Riyadh and Qassim with potable water. The project will also include 60-megawatt solar energy units to reduce power consumption from the grid, as well as water tanks with a storage capacity of one operational day.