Saudi Arabia Announces Financial Close of Rabigh-4 Independent Water Plant

1 November 2023
Saudi Arabia Announces Financial Close of Rabigh-4 Independent Water Plant

Saudi Water Partnership Company (SWPC) announces the successful financial close of Rabigh-4 IWP with support from the relevant authorities, and the commitment of the private sector developers.

Rabigh-4 is an Independent Water Plant with a capacity of 600,000 m3/day that will be built and operated by the private sector for a period of 25 years from the Commercial Operation Date (Q1, 2026), with the winning consortium comprised of ACWA Power, Almoayyed Group, and Haji Abdullah Alireza Company.

Rabigh-4 IWP project will produce potable water using reverse osmosis technology to service the Makkah and Madinah regions. It will also feature storage tanks with a capacity of 1,200,000 m3/day (equivalent to two operating days) to assist in optimizing the availability and reliability of water resources in the two regions.

Engineer Khalid Al-Quraishi, the CEO of SWPC, stated: “Rabigh-4 consortium managed to successfully complete the financial closure in close collaboration with the group of lenders, despite the shifting global market conditions. This demonstrates SWPC’s commitment to fully support investment projects and to increase private sector participation by giving local and foreign investors the opportunity to participate in the implementation of these projects. As a result, these projects will generate job opportunities and supporting local content to complement the strategic objectives of Saudi Arabia’s vision 2030.”

Al-Quraishi added “Reaching this stage in the project and starting construction works is an indication of investor’s confidence in the investment environment within the Kingdom of Saudi Arabia and the suitability of the investment environment for the private sector.”