Home Water SWPC reach financial close for $227 million Jeddah Airport-2 ISTP

SWPC reach financial close for $227 million Jeddah Airport-2 ISTP

SWPC successfully achieved financial close for Jeddah Airport-2 ISTP plant with the participation of success partners from the relevant authorities such as the supervisory committee at the Ministry of Environment, Water and Agriculture, developers and consultants, and the National Water Company.

Jeddah Airport-2 is a waste treatment plant with a capacity of 500 thousand cm/d with a total cost approx $227 million, to be built and operated by the private sector for a duration of 25 years from the date of completion of its execution, noting that the winning consortium of the project consists of the Power and Water Utility Company for Jubail and Yanbu (Marafiq), Veolia and Amwal Alkhaleej.

It is noticeable that despite the present conditions and obstacles caused by the Corona pandemic (Covid-19), as this pandemic has obstructed most major projects and stopped domestic and international air traffic, the SWPC Company succeeded in closing the project at a low tariff equal to 83 halalas per cubic meter.

This project is one of the privatization initiatives under the Privatization Program, which is one of the executive programs of the Kingdom’s 2030 vision. This achievement reflects the strength and efficiency of partnerships between the public and private sectors, and we hope to see more of these projects as part of the Kingdom’s ambitious 2030 vision in near future.

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