Power and Water Utility Company for Jubail and Yanbu (Marafiq) announces its joining the Al Haer Wastewater Treatment Plant Development Consortium with Miahona and NV Besix S.A.
| Element List | Explanation |
|---|---|
| Introduction | Power and Water Utility Company for Jubail and Yanbu (Marafiq) announces that it has received an acceptance letter from Miahona Company on 16/07/2024, approving its inclusion in the consortium with Miahona Company and N.V. BESIX S.A. Sharjah branch for the Al-Haer independent sewage treatment plant project in Riyadh (“Project”).
The Project was previously awarded to the consortium of Miahona Company and N.V. BESIX S.A. Sharjah branch (“the Consortium”), and the Project Agreement was executed on March 10, 2024, with the Saudi Water Partnership Company (SWPC). Marafiq will join the consortium as an "Other Member" and will own 35% of the Project Company, while Miahona will maintain a 45% stake in the Project Company. |
| Date of Award | 2024-07-16 Corresponding to 1446-01-10 |
| Counterparty | Saudi Water Partnership Company, Miahona Company and N. V. BESIX S.A Sharjah branch |
| Project Value | Excluding the finance cost, the Project Cost is One billion and five-hundred million Saudi Riyals (SAR 1,500,000,000). |
| Project Details | The Project aims to develop an Independent Sewage Treatment Plant (ISTP) in Al Haer with a treatment capacity of 200,000 m3/day. It also includes Treated Sewage Effluent Special Facilities (TSESF), consisting of an approximately 32 km-long Treated Sewage Effluent (TSE) transmission system with a capacity of 400,000 m3/day, a TSE Pumping Station, and TSE storage tanks with a capacity of 200,000 m3. The goal is to support and maximize the use of the treated sewage effluent in the Kingdom. Project Agreement Duration is 25 years. |
| Related Parties | None |
| Additional Information | The positive financial impact of the operation of the Project is expected to be reflected on the Company's financial results starting from the first quarter of 2027. |
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