Bahri inks SAR 760 mln agreement with Saline Water Conversion Corp.

17/12/2019 Argaam

 

The National Shipping Co. of Saudi Arabia (Bahri) signed a SAR 760 million agreement with Saline Water Conversion Corporation (SWCC) to transfer desalinated water from mobile water floating stations to desalination tanks.

 

Under the contract, the company will construct 3 floating stations "battleships" to desalinate water and supply desalinated water from battleships to the desalination tanks with a capacity of 50,000 cubic meters per day for each station.

 

The 20-year project is expected to begin commercial operations in Q1 2021, the company said in a statement on Tadawul.

 

SWCC is committed to purchase the water production from the project over the agreement term.

 

The project will be financed by Bahri's cash resources, in addition to bank loans. The expected financial impact will be realized starting from Q1 2021 until the end of the agreement, the statement added.

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