A consortium led by Power and Water Utility Company for Jubail and Yanbu (Marafiq), listed in Saudi Arabia, has reached financial close for the Amiral Industrial Wastewater Treatment and Reuse project in Jubail Industrial City 2, reports Zawya.
According to a statement submitted to the Saudi stock exchange on Monday, financing was secured from First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Korea Development Bank and Qatar National Bank. The total project cost is $500 million, including financing costs.
The project will be developed through Aqua Renew Company, a special purpose vehicle owned by Marafiq with a 40 percent stake, Veolia Middle East with 35 percent, and Lamar Arabia Energy with 25 percent.
The facility is intended to treat complex industrial wastewater streams from the Amiral facility, including spent caustic. It will use advanced treatment systems and recovery technologies to allow treated water to be reintegrated into industrial operations, supporting closed loop reuse and energy efficiency.
In September 2025, Veolia and Orascom were awarded contracts for civil works and for operations and maintenance. The operations and maintenance contract will run for 30 years and is scheduled to start in 2028.
The plant is expected to have an annual capacity of about 8.8 million cubic metres. The water reuse facility is described as the largest of its kind in the Middle East.
