Saudi Water Partnership Company (SWPC) and the winning consortium have reached financial close (FC) on the Rabigh-4 Independent Water Plant (IWP) PPP.
The ACWA Power, Almoayyed Group, and Haji Abdullah Alireza Company consortium was selected as the winner earlier this year, beating off competition from two teams featuring major names such as Engie & Acciona.
Under the plans, private partners will deliver a 600,000 cubic metres per day plant built in the Mecca region, which will utilise seawater reverse osmosis technology.
SWPC’s chief executive Khalid Al-Quraishi added “Reaching this stage in the project and starting construction works is an indication of investor’s confidence in the investment environment within the Kingdom of Saudi Arabia and the suitability of the investment environment for the private sector.”