Suez Energy wins Saudi BOOT contract

Suez Energy International has signed a build, own, operate, transfer contract for an independent water and power project (IWPP) in Saudi Arabia in a consortium with Gulf Investment Corporation and Arabian Company for Water & Power Projects.

Suez Energy International has signed a build, own, operate, transfer contract for an independent water and power project (IWPP) in Saudi Arabia in a consortium with Gulf Investment Corporation and Arabian Company for Water & Power Projects.

The 2,750MW and 800,000m³ water/day project is based in Jubail, in the north-east region of the Kingdom. Under the contract the consortium will own 60% of the project.

The Marafiq IWPP was awarded by the Power and Water Utility Company for Jubail and Yanbu (Marafiq). It is planned to supply water and electricity to industrial and non-industrial customers in the Jubail Industrial City and eastern province. The sale of the plant's entire energy and water output to the off-taker Marafiq is guaranteed in a 20 year Power and Water Purchase Agreement.

The total project cost is estimated at US $3.4 billion (AED12.5 billion).

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