Saudi Arabia’s Saline Water Conversion Corporation (SWCC) has invited firms to submit expressions of interest (EOI) for the privatization of the existing Ras Al-Khair (RAK) Integrated desalination and power plant.
As per the notification, RAK has been selected as the first asset for privatization as part of the larger privatization of SWCC’s production assets, which is overseen by the Privatization Supervisory Committee for the water sector of Saudi Arabia.
The Ras Al-Khair plant, which began production in 2015, has current operating desalination capacity of 1.05 million cubic meters per day in addition to generating electricity with a capacity of 2,650 MW. The plant utilizes a hybrid-configuration of multi-stage flash thermal desalination and reverse osmosis membrane technology.
The incoming investor will also have the option to take-over O&M of the plant.
SWCC appointed France’s BNP Paribas as the lead and financial adviser for the planned privatisation in October 2017. SWCC is also being adviser by Atkins, technical adviser, Ernst & Young, accounting adviser and Clifford Chance and the local Abuhimed Alsheikh Alhagbani law firm (AS&H) as legal advisers
SWCC notified that, interested bidders need to submit the expressions of interest (EOI) latest by 25 June 2020, 15.00 (local time).