Consortium of Marafiq, Amwal, and Veolia develop large Independent Sewage Treatment Plant in Saudi Arabia
Clients Consortium of sponsors consisting of The Power and Water Utility Company for Jubail and Yanbu (Marafiq), AlAmwal AlKhaleejiah AlThaniya, and Veolia Middle East
Jones Day advised the consortium of sponsors consisting of The Power and Water Utility Company for Jubail and Yanbu (Marafiq), AlAmwal AlKhaleejiah AlThaniya, and Veolia Middle East, in connection with the project close and financial close of the Jeddah Airport 2 Independent Sewage Treatment Plant Project located in the Kingdom of Saudi Arabia.
The project will be developed by Jeddah Althaniya Water Company (JAWC), a project company owned by the sponsors, under a 25 year Sewage Treatment Agreement granted by Saudi Water Partnership Company. Project costs of approximately US$275 million are being met partly through the equity injected into JAWC by the sponsors, and partly by a Shari’ah-compliant credit facility provided by The National Commercial Bank.
The initial phase of the project has a treatment capacity of 300,000 m3/day, while an expansion option is available to allow capacity to increase by up to a further 200,000 m3/day. The project is located adjacent to King Abdulaziz International Airport and will serve the Jeddah urban area.