Saudi Water Partnerships Company successfully achieved financial close for Jeddah Airport-2 ISTP with the participation of success partners from the relevant authorities such as the supervisory committee at the Ministry of Environment, Water and Agriculture, developers and consultants and National Water Company.
Jeddah Airport-2 is waste treatment plant with capacity of 500 thousand cubic meters per day with total cost around 850 million riyals ($227 million), to be built and operated by the private sector for a period of 25 years from the date of completion of its implementation, noting that the winning consortium of the project consists of the Power and Water Utility Company for Jubail and Yanbu (Marafiq), Veolia and Amwal Alkhaleej.
It is noteworthy that despite the current conditions and obstacles caused by the Corona pandemic (Covid-19), as this pandemic has obstructed most major projects and stopped domestic and international air traffic, the Saudi Water Partnerships Company succeeded in closing the project at a low tariff equal to 83 halalas per cubic meter.
This project is one of the privatization initiatives under the Privatization Program, which is one of the implementation programs of the Kingdom’s 2030 vision. This achievement reflects the strength and efficiency of partnerships between the public and private sectors, and we expect to see more of these projects as part of the Kingdom’s ambitious 2030 vision in near future.