Saudi Water Partnerships Company successfully achieved financial close for Jubail-3A
\nIWP with the participation of success partners from the relevant authorities such as the
\nSupervisory committee at the Ministry of Environment, Water and Agriculture, developers
\nand consultants.<\/p>\n
Jubail-3A is an Independent Water Plant with capacity of 600 thousand cubic meters per
\nday with total cost around 2.4 billion Saudi Riyals, to be built and operated by the private
\nsector for a period of 25 years from the Commercial Operation Date, noting that the
\nwinning consortium of the project consists of ACWA Power, Gulf Investment Corporation
\nand Al Bawani Water and Power.
\nIt is noteworthy that despite the current conditions and obstacles caused by the Corona
\npandemic (Covid-19), as this pandemic has obstructed most major projects and stopped
\ndomestic and international air traffic, the Saudi Water Partnerships Company succeeded
\nin closing the project.
\nThe CEO of SWPC, Eng. Khalid Al-Quraishi, said: \u201cDespite the fluctuations, liquidity
\ncrises and changing global market conditions, the Saudi Water Partnerships Company
\nand the Consortium succeeded in completing the financial closure procedures in close
\ncooperation with the group of lenders, which indicates the company\u2019s efforts. Saudi
\nWater Partnerships to provide full support for investment projects, and to enhance private
\nsector participation in sustainable development by providing the opportunity for local and
\nforeign investors to participate in the implementation of these projects, thus achieving
\nsustainable development, providing job opportunities for young people, and supporting
\nlocal product and balanced development, in order to achieve the strategic objectives
\ncontained in \u201cSaudi Arabia\u2019s vision 2030\u201d and the initiatives approved by the Saudi
\nCouncil of Ministers to encourage private sector participation in economic development
\ninitiatives\u201d.
\nAl-Quraishi added \u201cReaching this stage in the project and starting construction works
\nunder these difficult circumstances is a complete indication of investor confidence in the
\ninvestment environment in the Kingdom of Saudi Arabia and the suitability of the
\ninvestment environment for the private sector.\u201d
\nACWA Power President & CEO Paddy Padmanathan stated: \u201cAchieving the financial
\nclosure for Jubail 3A IWP, despite the unique circumstances presented by COVID-19, is
\na remarkable success for this significant project that will help meet growing water
\ndemand in the area and contribute to socio-economic development in KSA. We would like
\nto extend our appreciation to the Saudi Water Company, the financial community and our
\npartners for their trust and cooperation in enabling the swift competition of this milestone.
\nAs always, ACWA Power remains committed to leveraging our global expertise in
\ndeploying advanced technologies, backed by robust public-private partnerships to
\nenhance water security for the Kingdom in line with its Vision 2030.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Saudi Water Partnerships Company successfully achieved financial close for Jubail-3A IWP with the participation of success partners from the relevant authorities such as the Supervisory committee at the Ministry of Environment, Water and Agriculture, developers and consultants. Jubail-3A is an Independent Water Plant with capacity of 600 thousand cubic meters per day with total cost […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12654","post","type-post","status-publish","format-standard","hentry","category-un-categorized"],"_links":{"self":[{"href":"https:\/\/newdev.swpc.sa\/en\/wp-json\/wp\/v2\/posts\/12654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newdev.swpc.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newdev.swpc.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newdev.swpc.sa\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newdev.swpc.sa\/en\/wp-json\/wp\/v2\/comments?post=12654"}],"version-history":[{"count":2,"href":"https:\/\/newdev.swpc.sa\/en\/wp-json\/wp\/v2\/posts\/12654\/revisions"}],"predecessor-version":[{"id":12664,"href":"https:\/\/newdev.swpc.sa\/en\/wp-json\/wp\/v2\/posts\/12654\/revisions\/12664"}],"wp:attachment":[{"href":"https:\/\/newdev.swpc.sa\/en\/wp-json\/wp\/v2\/media?parent=12654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newdev.swpc.sa\/en\/wp-json\/wp\/v2\/categories?post=12654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newdev.swpc.sa\/en\/wp-json\/wp\/v2\/tags?post=12654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}