Financial Close for Jubail 3A IWP Project (600,000 m3/ day RO plant with one day production storage) was achieved on 3rd December 2020. The Project Agreements were signed by SWPC with a consortium comprising ACWA Power, Gulf Investment Corporation and Al Bawani Water & Power Company in May 2020.
The project, in addition to being one of the largest Seawater Reverse Osmosis (SWRO) plants in the world has also achieved lowest tariffs (for projects which have achieved financial close) in the region. This achievement marks another significant milestone for SWPC.
The transaction highlight is that the approvals, announcement of preferred bidder, negotiations on the project documents, execution as well as the Financial Close were successfully achieved during COVID-19 restrictions.
Synergy Consulting is honored to be associated with SWPC for Jubail 3A IWP as well as for the other marquee privatization programs such as ISWR and IWTP, being part of the Kingdom’s PPP program for the Water Sector and Saudi Arabia Vision 2030.