Marafiq gets $280m to build Jeddah sewage treatment plant

Marafiq gets $280m to build Jeddah sewage treatment plant

Consortium set up Jeddah Althaniya Water Co. to operate the plant for 25 years

Saudi Arabia's Marafiq and its partners obtained $280 million in financing to develop a sewage treatment plant in the kingdom's commercial city of Jeddah.

The project costs have been structured as non-recourse project financing from National Commercial Bank and equity contributions from shareholders, according to a statement. Veolia Environment SA and Amwal AlKhaleejiah are partners in the Jeddah Airport 2 ISTP project.

Marafiq consortium set up Jeddah Althaniya Water Co. to operate the plant for 25 years. Stage 1 will treat 300,000 m3 per day, scheduled to be commissioned on Jan. 31, 2023; while Stage 2 might add another 200,000 m3 per day when the new plant capacity exceeds specific utilisation rates.

Marafiq's shareholders include the Public Investment Fund (PIF),