The plant is being financed through limited recourse ring-fenced project financing from Al Rajhi Bank 1120.SE, Abu Dhabi Islamic Bank ADIB.AD, Riyad Bank 1010.SE and Mizuho 8411.T, ACWA said in a statement.
The transaction is funded through “limited recourse ring-fenced project financing” with Al Rajhi Bank, Abu Dhabi Islamic Bank, Riyad Bank and Mizuho Bank as initial mandated lead arrangers, the Saudi-based utility said in a statement.
Construction of KSA SWPC’s Shuqaiq 3 IWP desalination plant achieves two million man-hours without injuries – Saudi Arabia
This achievement reflects the shared priority and focus of SWPC, S3CW and ACCIONA, on risk prevention and the correct implementation of the Health & Safety (HSE) measures for all the workers in the Project.
The programme began to bear significant fruit in 2019: seven PPP tenders were closed, expected to generate $2.4bn (SR9.1bn) in new investment, as well as the first privatisation by strategic sale, of the Saudia medical service.
Yokogawa Electric Corporation said its Saudi subsidiary has received an order from Turkish contracting giant Limak Construction to supply the monitoring systems for a key water transmission pipeline project in the kingdom.
The Jubail-Riyadh water transmission system, owned by the state-run Saline Water Conversion Corporation (SWCC), will be transporting water from desalination plants near Jubail on the Persian Gulf coast to capital city Riyadh.
It will be one of the largest water transmission systems in the world, capable of transporting 1.2 million sq m of potable water per day. The system consists of a 412 km twin pipeline, one pumping station in Jubail, two intermediate pumping stations, and two tank farms.