SWPC, Metito group ink $245m Saudi sewage plant finance deal

SWPC, Metito group ink $245m Saudi sewage plant finance deal

The project, located at Dammam West, will be awarded to the private sector under the Build Own Operate Transfer (BOOT) concession model with a tenor of 25 years.. Announcing the achievement, SWPC said the financial close of this 'first of its kind' project comes in spite of the global Covid-19 pandemic, which has frozen many large-scale projects around the world.. The consortium's scope of work covers the entire investment and includes the EPC and O&M which will be executed by a wholly-owned Saudi-based company established by the Consortium to serve the project - the Dammam West Company for Water.. "Reaching the stage in the project and resuming construction work under these difficult circumstances indicates confidence in the investment environment in the Kingdom of Saudi Arabia and its suitability for the private sector," stated Al Qureshi..