Saudi Industrial Services Co. Announces an update on the signing of a contract by an associate company for the construction of two independent sewage treatment plants in the cities of Tabuk and Buraidah.
| 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 plants in the cities of Tabuk and Buraidah 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 it formed in partnership with the Spanish company "Acciona" and the Saudi Company “Tamasuk Holding“ to support the development of the sewage treatment plants and their financing, in addition to 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 2 independent sewage treatment plants in the cities of Tabuk and Buraidah |
| 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 Tabuk plant will process 90,000 cubic meters per day, and it is scheduled to complete construction of the plant and start its operation in the third quarter of 2024.
The Buraidah plant will process 150,000 cubic meters per day, and it is scheduled to complete the construction of the plant and is also planned to start its operation in the third quarter of 2024.
The financing of both projects, with a total cost of more than SR1.4 billion ($373 million), was facilitated through the financing of local banks. The consortium established 2 project companies 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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