Tuesday 5 March 2024

Vision consortium named preferred bidders for Juranah reservoir

RIYADH, November 27, 2023

Saudi Water Partnership Company (SWPC) has announced a consortium of Saudi-based Vision International Investment Company - with its partners regional heavyweights Kuwait-based Gulf Investment Corporation and Abu Dhabi energy group Taqa - as the preferred bidder for Juranah Independent Strategic Water Reservoir Project. 
A first of its kind project coming up in Makkah city, the Juranah ISWR is being implemented on a BOOT (build, own, operate and transfer) model and the development work will include the water reservoir and all associated infrastructure and facilities.
It will help serve the residents and visitors of Makkah city in addition to Hajj & Umrah pilgrims. The capacity of the strategic tanks is set at 2,000,000 cu m while the project will also develop operational tanks with a capacity of 500,000 cu m to support the potable water distribution system.
SWPC pointed out that with levelised water storage costs of SAR18.1, the Vison consortium has emerged as the preferred bidder, while a consortium of Abdul Aziz Al Ajlan Sons Company for Commercial & Real Estate Investment and Orascom Construction (with SAR24.07 storage costs) have been named the reserved bidders.
The Juranah plant, which is set for commercial operations in Q1 2027, will boast a total 2.5 million cu m capacity that will cater to the drinking water needs of Makkah city.
Earlier TradeArabia had reported that a total of 34 companies, including 21 Saudi firms, were in the fray for project in the initial stage. 
These included global utility majors including Spanish infrastructure heavyweights Acciona and Abengoa Agua; Marubeni (Japan) and Chinese construction majors - China Railway Construction Corporation, China Gezhouba and Powerchina Group.
The top Saudi firms who had expressed interest in the project include Ajlan & Bros Energy Company (Abilitii); Al Rajhi Holding Group; Al Bawani Water & Power; Al Yamama; Alfanar; Nesma; AlKawther Industries; Alkhorayef Water and Power Technologies; Amiantit; Petrojet, Taqa, Thabat Construction and Marafiq.
In addition to all this, some GCC players too were in the race including Metito Utilities and Qantara (UAE); Orascom Construction and Bahrain-based Lamar Holding, it stated.
SWPC said the successful bidder, through a special purpose vehicle, will provide the required storage capacity to the Saudi utility under a 30-year water storage agreement. 
For the project, Synergy Consulting IFA acted as the lead and financial advisor; Amer Al Amr Law Firm as the legal advisor and WSP Middle East as its technical advisor.-TradeArabia News Service


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