Sunday 26 June 2022

Marubeni, Metito, GIC in race for key Saudi reservoirs project

RIYADH, May 26, 2022

Saudi Water Partnership Company (SWPC) has announced that a total of 17 developer/developer consortiums have been prequalified for the Juranah Independent Strategic Water Reservoirs project located in Makkah region that has a total storage capacity of 2.5 million cu m per annum. 
The list of the pre-qualified bidders (lead and/or technical) for the project include Asian industrial majors Japan's Marubeni Corporation and Chinese companies - Gezhouba Group Overseas Investment and China Harbour Engineering Company (CHEC) in addition to regional firms, the UAE-based Metito and Kuwait's Gulf Investment Corporation.
SWPC indicated in November last year that a total of 34 companies had expressed their interests in the Juranah project which is being implemented on a BOOT (build, own, operate and transfer) model. Of these, 21 were Saudi firms. 
The top local firms which have now been prequalified are Abdul Aziz Al Ajlan Sons; Metscco Heavy Steel Industries; Al Yamama Company; Alfanar; Al Rajhi Holding Group; Almutlaq Industrial Investment; Alkhorayef Water & Power Technologies; Marafiq; Mowah; Mutlaq Al Ghowairi; Nesma and Vision International Invest Company.
SWPC in an earlier notification said it will be conducting a competitive process to select a developer/developer consortium for the project which will be responsible for the development, financing, procurement, implementation and operation and maintenance of the water reservoir. 
The scope of work includes the setting up of a water reservoir and all associated infrastructure and facilities, said the statement from SWPC. 
The successful bidder, through a special purpose vehicle, will provide the required storage capacity to SWPC under a 30-year water storage agreement, it added. 
SWPC said its obligations under the agreement will be backed by a credit support agreement from the Saudi government.
Synergy Consulting IFA is the lead and financial advisor; while Amer Al Amr Law Firm is the legal advisor and WSP Middle East the technical advisor for the project.-TradeArabia News Service


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