The Saudi Water Partnership Company (SWPC) has declared the commencement of commercial operations for the Jubail 3B Independent Water Project (IWP).
This cutting-edge facility, valued at SR2.6 billion ($693.3 million), utilizes reverse osmosis technology to generate 570,000 cubic meters of drinking water each day, serving the needs of two million people in Riyadh and Qassim.
The project achieved financial closure in October 2021, following a partnership between SWPC and a consortium of developers led by the French energy company Engie. This consortium, which established the Al-Jubail International Water Company, also includes notable local firms such as Nesma Company and Alajlan Company.
The Jubail 3B IWP not only boasts sophisticated desalination technology but also features storage tanks that can hold a full day’s production and a solar power system designed to lessen dependence on the national electricity grid.
Under a 25-year build-own-operate agreement, the developer team proposed a competitive levelised cost of water tariff of $0.42 per cubic meter in 2020. Engie possesses a 40 percent ownership in the project company, while Nesma and Alajlan each hold a 30 percent stake.
This initiative emphasizes local content, achieving 40% during the construction phase, 50% in the initial five years of operation, and increasing to 70% in the subsequent years.
Source :Saudi Water Partnership Company
