The Saudi Water Partnerships Company (SWPC) and the Consortium of “Cobra” and “Tawzea” companies announced the financial closure of the Taif Independent Sewage Treatment Plant, ISTP.
The project cost is approximately SAR 320 million riyals (USD 85.3 million).
Earlier, During February 2020, SWPC signed an agreement with consortium comprising of Cobra Instalaciones y Servicios, S.A. (Cobra) and International Water Distribution Co. Ltd. (Tawzea), jointly owned by Saudi Industrial Services Co (SISCO) and Saudi Arabian Amiantit Co.
As per the terms of contract, the consortium will develop and finance the wastewater treatment plant and provide engineering, procurement, construction, implementation, ownership, operation and maintenance services, and then transfer the ownership (BOOT) to the Saudi Water Partnerships Company.
In the first phase, the plant will handle 100,000 cubic meters per day, and the construction of the station is scheduled to be completed and start operating in the third quarter of 2022.
The second phase will begin when the operational capacity at the plant exceeds the usage rates, as 170,000 cubic meters will be added to its capacity in its expansion plans.
As per the statement, the financing of the project, was funded by a local bank. The consortium succeeded in close cooperation with the Saudi Water Partnerships Company to reach the financial closure stage.
The consortium established a Saudi company to serve the project, Taif Independent Water Plant Company, which will manage and operate the plant after construction, for a period of 25 years.