Marafiq Gets $280 Million to Build Jeddah Sewage Treatment Plant

Saudi Arabia‘s Marafiq and its partners obtained $280 million in financing to develop a sewage treatment plant in the kingdom’s commercial city of Jeddah.

The project costs have been structured as non-recourse project financing from National Commercial Bank and equity contributions from shareholders, according to a statement. Veolia Environnement SA and Amwal AlKhaleejiah are partners in the Jeddah Airport 2 ISTP project.

Details:

• Marafiq consortium set up Jeddah Althaniya Water Co. to operate the plant for 25 years

• Stage 1 will treat 300,000 m3 per day, scheduled to be commissioned on Jan. 31, 2023

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• Stage 2 might add another 200,000 m3 per day when the new plant capacity exceeds specific utilization rates

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Marafiqs shareholders include the Public Investment Fund, Saudi Arabian Oil Co. and Saudi Basic Industries Corp.