Wednesday 12 June 2024

SWPC seals financial close for Juranah water reservoir

MAKKAH, 15 days ago

Saudi Water Partnership Company (SWPC) has announced the financial close for the Juranah Independent Strategic Water Reservoir (ISWR) project in Makkah. 
On completion, this landmark project will have a strategic storage capacity of 2 million cu m and an operational tank capacity of 500,000 cu m to bolster the potable water distribution system, said SWPC in a statement.
The Juranah ISWR will be executed under the Build, Own, Operate and Transfer (BOOT) model, by the winning developer consortium of Saudi-based Vision International Investment Company with Kuwait group Gulf Investment Corporation and Abu Dhabi energy major Taqa as members.
SWPC Chief Executive Officer Engineer Khaled AlQureshi said the Juranah ISWR project is the first of its kind in Saudi Arabia to involve private sector participation, in alignment with the National Water Strategy.
"The project’s concession will span 30 years, with direct investment from private sector amounting to SAR1.5 billion ($400 million) and guaranteeing 100% stored water availability, reducing operational costs, and enhancing local content by increasing the localization of business and human resources," stated Eng AlQureshi.
Set for commercial operations in Q1 2027, the Juranah ISWR project will significantly enhance the water supply chain, serving residents and visitors of Makkah, as well as Hajj and Umrah pilgrims.-TradeArabia News Service


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