Project Summary | |
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Project Name: | WEC’s Rabigh 3 Independent Water Project (IWP) |
Facility Type: | Independent Water Project (IWP) |
Client: | Saudi Arabia’s Water & Electricity Co. (WEC) |
Budget (US $): | 750,000,000 |
Project Initiation: | Not Given |
Project Completion:: | Dec 05, 2022 |
Status: | EPC Awarded, |
Location: | Rabigh |
Project Current Status |
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SEPCO III, China has announced that the plant performance test of the Rabigh 3 IWP has been successfully completed. During the performance test, each system operated stably and all parameters were qualified, which was recognized and praised by the owner. The project is being procured under a 25-year BOO contract. The water output will cater to the water demand of Makkah al-Mukarramah and Jeddah. (November 2021) |
Project History |
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Related Projects |
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SWPC’s Jubail Independent Water Projects (IWPs) – Overview |
SWCC’s Jubail, Rabigh Independent Water and Power Projects – Overview |
Project Schedule |
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January 2018: Short listing of EPC February 2018: ITB for EPC July 2018: Bids Submission EPC November 2018: Preferred bidder appointed for EPC Q4, 2022: Expected start-up and commissioning |
Project Scope |
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The project scope involves the development of an independent water project (IWP) at Rabigh.
The project – Rabigh 3 IWP – will have a capacity of 600,000 cubic metres a day (cm/d) and use reverse osmosis (RO) technology.
WEC will select a consortium to develop, finance, procure, implement, operate and maintain the desalination facility. |
Project Structure: |
The project is owned, operated and managed by Saudi Arabia’s Water & Electricity Co. (WEC). The state-owned company is offering a 25-year concession to the developer or consortium to sell the plant's production under a water purchase agreement with the Saudi government. SWCC and SEC each own a 50% shareholding in WEC. Banque Saudi Fransi has been appointed as lead advisor for the project, while DLA Piper Middle East will serve as legal advisor. Senior financing and hedging agreements for the SR2.62 billion ($700 million) signed for the project. The transaction is financed through limited recourse ring fenced project financing with Natixis, MUFG, Samba and Riyad Bank being the initial mandated lead arrangers. In addition, Riyad Bank also provided an equity bridge loan for the transaction. |
Mr. FehiedFahad Al Shareef | |
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Designation: | Governor |
Department: | SWCC |
Phone: | +966 463 0503 |
Fax: | +966 465 0852 |
Email: | rdc@swcc.gov.sa |