SWPC announces $684m financial close for Ras Mohaisen water project
MAKKAH
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Saudi Water Partnership Company (SWPC) has announced the financial close of the Ras Mohaisen Independent Water Desalination Plant Project, located in Al Qunfudhah, Makkah Region, with a total estimated investment value of SAR2.57 billion ($684 million), fully financed by the private sector.
Ras Mohaisen is an integrated project that includes a desalination plant, 17km of overhead power transmission lines, an electrical substation (132/33 kV), and operational storage facilities, thus enhancing both the reliability and stability of water and electricity supply in the served regions.
Developed under the Build, Own, and Operate (BOO) model, the project will boast a production capacity of 300,000 cu m per day, said SWPC in a statement.
It is being implemented by a consortium led by global utility major Acwa Power (with a 45% stake) with key Saudi partners - Haji Abdullah Alireza & Company (35%) and AlKifah Holding (20%), through the Ras Mohaisen First Water Desalination Company, which will undertake the development and operation of the plant.
The project is scheduled to commence initial production in 2028, delivering 100,000 cu m/day and will reach full production capacity of 300,000 cu m/day by 2030, under a 25-year agreement from the final commercial operation date.
Notably, the project incorporates a renewable energy field with a capacity of 30MW, contributing to reducing power consumption and improving operational efficiency, in alignment with the Kingdom’s clean energy transition goals, said the statement.
The project also demonstrates strong commitment to local content development, with participation levels set at 40% during construction, 50% during the first five years of operation, and 70% started from the sixth year onward — empowering Saudi talent and strengthening local supply chains within the water sector, it added.
The Ras Mohaisen Independent Water Desalination Plant Project stands as a landmark example of effective public-private collaboration, reinforcing the Kingdom’s commitment to sustainable water security, economic growth, and the objectives of Vision 2030.-TradeArabia News Service
