Miahona achieves financial close for $400m Saudi sewage plant
RIYADH, 5 days ago
Miahona, a Saudi pioneer in water and wastewater infrastructure development, has announced that its consortium comprising Besix and Marafiq Company has achieved financial close for the SAR1.5 billion ($400 million) Al Haer Independent Sewage Treatment Plant (ISTP) coming up in the kingdom.
To be developed on a build, own, operate and transfer (BOOT) model, the plant once completed will boast a treatment capacity of 200,000 cu m/day. Miahona has a 45% stake in the consortium.
It will also include treated sewage effluent special facilities (TSESF), consisting of 32 km-long Treated Sewage Effluent (TSE) transmission system with a capacity of 400,000 cu m/day, a TSE Pumping Station, and TSE storage tanks with a capacity of 200,000 cu m/day.
Miahona said the facilities agreements were sealed with the group of financiers comprising Banque Saudi Fransi (BSF), Apicorp and Riyad Bank.
The commercial operation of the project will kick off in the fourth quarter of 2026, with the agreement spanning 25 years to guarantee sustained service delivery and effectiveness.-TradeArabia News Service
