Nine prequalified for Rabigh 3 IWP

By Davis Thattil | Mar 29, 2018
Water & Electricity Company (WEC) has prequalified nine developers to participate in the planned 600,000 cubic metres a day (cm/d) Rabigh 3 independent water project (IWP). The prequalified groups are: (1) Acwa Power (local); (2) Engie (France); (3) FCC Aqualia (Spain), Nesma (local), Cobra (Spain), Haji Abdullah Alireza & Company (HAACO); (4) JGC (Japan); (5) Malakoff (Malaysia); (6) Marubeni (Japan), Acciona (Spain), Abdullatif Jameel (local), Rawafid Holding (local); (7) Suez Group (France), El-Seif Engineering (local), Gulf Investment Corporation (Kuwait); (8) Valoriza (Spain); (9) Veolia (France), Marafiq (local), Amwal al-Khaleej (local), Advanced Water (local).

The Rabigh-3 IWP Plant will be located south of Rabigh, on the Red Sea Coast, approximately 150 km north of Jeddah. Its Planned Capacity is 600,000 m3/day of desalinated water, expandable to 1,200,000 m3/day net of potable water capacity. The Plant is designed using Reverse Osmosis seawater desalination technology to produce the potable water.  

Under a concession of 25 years, the company to be incorporated to develop the Project will sell their entire capacity and output to WEC under a Water Purchase Agreement (WPA). WEC’s obligations under the WPA will be supported by a payment guarantee from the Government of the Kingdom of Saudi Arabia. The client is targeting for financial close to be concluded by October 2018, with the plant to be commissioned by October 2021.

WEC is being advised by: Banque Saudi Fransi as Lead and Financial Adviser; Alderbook Finance as Co-Financial Adviser; DLA Piper Middle East LLP as Legal Adviser; and Fichnter GmbH & Co. KG as Technical Adviser.

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