SWPC announces financial close of $692m Jubail-3B plant

SWPC announces financial close of $692m Jubail-3B plant

Saudi Water Partnerships Company (SWPC) has announced the financial close for its Jubail-3B Independent Water Plant (IWP) with the participation of its partners from the relevant authorities such as the supervisory committee at the Ministry of Environment, Water and Agriculture, developers and consultants.

 

Located 65 km north of Dammam airport in Saudi Arabia, the Jubail 3B IWP plant will produce 570,000 cu m per 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 – to help trim the cost of electricity per cu m.

 

The project, which is estimated to cost SR2.6 billion ($692 million), will be implemented on a build, own, operate (BOO) model by the private sector for a period of 25 years from the date of commercial operation.

 

Earlier this year in June, SWPC had reached the project's commercial close with a consortium led by French energy giant Engie along with its Saudi partners Nesma Company and Abdulaziz Al Ajlan Sons for Commercial and Real Estate Investment Company.

 

Confirming the financial close, CEO Engineer Khalid Al Quraishi said that it was indeed a