Saudi Industrial Services Co. Announces an update on Signing of a contract by an associate company for the construction of an independent sewage treatment plant in the city of Madinah.
| Element List | Explanation |
|---|---|
| Introduction | Pursuant the company’s announcement on 20/02/1443H corresponding to 27/09/2021 the Saudi Industrial Services Company "SISCO" announces developments by its associate company, the International Water Distribution Company “Tawzea” -which is equally owned by the Saudi Industrial Services Company "SISCO” and the Saudi Arabian Amiantit Company "- that Tawzea as the developer for the independent wastewater treatment plant in Madinah, has successfully achieved financial closure in close coordination with the Saudi Water Partnerships Company on 30/07/1443H corresponding to 03/03/2022 in cooperation with the consortium that it has formed in partnership with the Spanish company "Acciona" and the Saudi Company “Tamasuk Holding“ to support the development of the sewage treatment plant and its financing, in addition of the provision of engineering and procurement services, construction concession, implementation, ownership, operation and maintenance, and then transfer of ownership (BOOT) to the Saudi Water Partnerships Company .( Tawzea share is 35% ) |
| Previous Announcement | Signing of a contract by an associate company for the construction of an independent sewage treatment plant in the city of Madinah. |
| Date of Previous Announcement on Tadawul's Website | 2021-09-27 Corresponding to 1443-02-20 |
| Percentage of fulfilled achievement | NA |
| Event's Expected Completion Date | NA |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | NA |
| Additional Information | The Madinah plant, currently in its first phase, will process 200,000 cubic meters per day, and is scheduled to complete the construction of the plant and start its operations in the fourth quarter of 2024. The plant is also expected to gain an expansion of capacity by 175,000 m3 per day as part of its expansionary plans.
The financing of this project, with a total cost of more than SR966 million ($257 million), was facilitated through the financing of local banks. The consortium establish a project company within the public-private partnership (PPP) model framework to manage and operate the plants for a period of 25 years after the end of construction activities , embodying the Kingdom’s Vision 2030 in the context of privatizing infrastructure projects. |
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