Saudi Water Partnership Company and a consortium including Marafiq, Veolia and Amwal Khaleejiah secured financing worth $280 million (Dh1.03 billion) to build a sewage treatment plant in Jeddah.
The project, Jeddah Airport 2 ISTP, is being developed through a public-private partnership agreement between Saudi Water Partnership and the consortium, which will build, own and operate the facility under a 25-year deal, Marafiq said in a statement on Sunday, before transferring it back to the public sector.
Funding has been structured as non-recourse project finance, sourced from a combination of senior project finance loans by the National Commercial Bank and equity contributions from shareholders, it added.
"The successful financial closing of Jeddah Airport 2 ISTP, shows the robustness and the efficiency of private-public-partnerships and we expect to see more of these type of projects as part of the Vision 2030," SWPC's chief ececutive, Khaled Al-Qureshi said.
The consortium has also established an entity called the Jeddah Althaniya Water company, which will be responsible for the plant's operation. Once the first phase of construction is complete by the end of January 2023, it will treat 300,000 cubic metres of water per day. Stage two might add another 200,000 cubic metres per day, if the plant exceeds specific utilisation rates.
"All the principles of the circular economy will be put in place, allowing the reduction of sludge and enhancing the beneficial reuse of recycled water for irrigation or industrial use," said Sébastien Chauvin, chief executive of Veolia.
Marafiq, which is also known as Power and Water Utility Company for Jubail and Yanbu, is owned by the the Royal Commission for Jubal and Yanbu, the Public Investment Fund, Saudi Aramco and Sabic.
Scores
New Zealand 266 for 9 in 50 overs
Pakistan 219 all out in 47.2 overs
New Zealand win by 47 runs
Killing of Qassem Suleimani
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
LILO & STITCH
Starring: Sydney Elizebeth Agudong, Maia Kealoha, Chris Sanders
Director: Dean Fleischer Camp
Rating: 4.5/5
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The Vines - In Miracle Land
Two stars
The biog
Fast facts on Neil Armstrong’s personal life:
- Armstrong was born on August 5, 1930, in Wapakoneta, Ohio
- He earned his private pilot’s license when he was 16 – he could fly before he could drive
- There was tragedy in his married life: Neil and Janet Armstrong’s daughter Karen died at the age of two in 1962 after suffering a brain tumour. She was the couple’s only daughter. Their two sons, Rick and Mark, consulted on the film
- After Armstrong departed Nasa, he bought a farm in the town of Lebanon, Ohio, in 1971 – its airstrip allowed him to tap back into his love of flying
- In 1994, Janet divorced Neil after 38 years of marriage. Two years earlier, Neil met Carol Knight, who became his second wife in 1994
MATCH INFO
What: 2006 World Cup quarter-final
When: July 1
Where: Gelsenkirchen Stadium, Gelsenkirchen, Germany
Result:
England 0 Portugal 0
(Portugal win 3-1 on penalties)
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 258hp from 5,000-6,500rpm
Torque: 400Nm from 1,550-4,000rpm
Transmission: Eight-speed auto
Fuel consumption: 6.1L/100km
Price: from Dh362,500
On sale: now
'The Last Days of Ptolemy Grey'
Rating: 3/5
Directors: Ramin Bahrani, Debbie Allen, Hanelle Culpepper, Guillermo Navarro
Writers: Walter Mosley
Stars: Samuel L Jackson, Dominique Fishback, Walton Goggins
The specs: 2018 Mercedes-AMG C63 S Cabriolet
Price, base: Dh429,090
Engine 4.0-litre twin-turbo V8
Transmission Seven-speed automatic
Power 510hp @ 5,500rpm
Torque 700Nm @ 1,750rpm
Fuel economy, combined 9.2L / 100km
Killing of Qassem Suleimani
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5