Home Water SWPC invites to submit EOI for the Ras Mohaisen IWP

SWPC invites to submit EOI for the Ras Mohaisen IWP

Saudi Arabian Company SWPC has invited developers to submit expressions of interest (EOI) for the planned Ras Mohaisen independent water project (IWP).

The appointed developer will sign a 25-year water purchase agreement ‘WPA’ with SWPC, SWPC’s obligations supported by a credit support agreement from the Saudi government.

SWPC has appointed KPMG Al-Forzan & Partners and lead adviser and financial adviser, Eversheds Sutherland as a legal adviser and WSP as a technical adviser.

As with most of the kingdom’s utility sector, the push towards utilizing public-private partnership (PPP) models to develop power and water projects has been swift since the fall in oil prices in 2014 and the subsequent launch of the Vision 2030 economic reform plan in 2016.

The kingdom awarded the contract for its first PPP standalone desalination plant, the $700m Rabigh 3 IWP in late December 2019. An Acwa Power-led consortium will develop the 600,000 cm/d plant, one of the largest reverse osmosis (RO) plants in the world.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

SNOC begins gas production at Mahani field in Sharjah

Sharjah National Oil Corporation (SNOC) and its partner Italian oil major Eni have pulished the start-up of Mahani-1 gas well, marking the...

India’s Sterling and Wilson wins Acwa’s Egypt solar project

Saudi-based Acwa Power said it has reached an agreement with Sterling and Wilson Solar, a unit of leading Indian construction group Shapoorji...

Al Dahra signs strategic water security agreement with Israel’s Watergen

Abu Dhabi-based Al Dahra Holding Company has signed a strategic partnership agreement with Israeli company, Watergen to create a renewable source of...

ADNOC multi-billion dollar subsea transmission project

The Four groups have submitted binding commercial offers for the planned high-voltage sub-sea transmission project to connect Abu Dhabi National Oil Company’s...