Al Jomaih Energy and Water Firm, in partnership with Bahour Funding Firm and Nesma Group, introduced the monetary closure of the Jubail-Buraidah unbiased water pipeline mission with a complete funding worth of roughly 8.5 billion Saudi riyals, after signing a water transportation settlement between the mission firm, “Stream Water Transport Firm” and the “Saudi Water Partnership Firm (SWPC).” The possession construction of the mission firm is split between “Al Jomaih Energy and Water Firm” with a share of 45%, “Bahour Funding Firm” with a share of 35%, and “Nesma Group” with a share of 20%. This achievement represents a basic step in implementing the primary desalinated water transportation mission within the Kingdom linking the Jap Province and the Qassim Area with the opportunity of reverse pumping.
The financing was supplied by way of an alliance that features a group of native and regional lenders, and contains the Nationwide Infrastructure Fund (Infra) from the general public sector, together with various main financing entities, particularly Al Rajhi Financial institution, Abu Dhabi Industrial Financial institution, First Saudi Financial institution, Arab Vitality Fund, First Abu Dhabi Financial institution, Saudi Funding Financial institution, and Financial institution Al Jazira. Your entire financing construction relies on Islamic financing, which displays the financiers’ confidence within the alliance of mission companions and the strategic influence of this important mission.
The amount of desalinated water transportation within the Jubail – Buraidah mission will attain 650,000 cubic meters per day, with a storage capability of 1,634,500 cubic meters, and can lengthen over a distance of 587 kilometers. The mission is being developed in accordance with the construct, personal, function and switch (BOOT) mannequin, with a 35-year concession contract and an implementation interval of 4 years. The mission is anticipated to start business operation in 2029.
This mission displays the dedication of the coalition companions to contribute to the development of significant infrastructure that enhances water sustainability and helps the Nationwide Water Technique 2030. When operational, the mission will serve greater than two million beneficiaries, and supply a dependable and sustainable supply of desalinated water with an availability of as much as 98% of its operational capability.
On this context, His Excellency Mr. Ibrahim Al-Jomaih, Chairman of the Board of Administrators of Al-Jomaih Energy and Water Firm, said:
“Attaining the monetary closure of this strategic mission represents an affirmation of our dedication to contribute to supporting the Kingdom’s nationwide water technique and the targets of the Saudi Imaginative and prescient 2030. Via this partnership that mixes native experience with international requirements, we search to realize long-term water safety and a resilient infrastructure linking the Jap and Qassim areas. The mission’s superior storage techniques and distinctive design will guarantee a steady provide of desalinated water, which strengthens Al Jomaih Energy and Water Firm’s place as a number one firm in growing water and infrastructure tasks throughout the Kingdom.”
For his half, Engineer Adnan Bu Hulaiga, Appearing CEO of Al Jomaih Energy and Water Firm, mentioned:
“The monetary closing of this mission displays the power of the alliance we’re main and the arrogance of our companions in our imaginative and prescient. Via strategic cooperation and innovation with our companions, we contribute to growing a high quality infrastructure for water tasks within the Kingdom and constructing a future for extra sustainable tasks, because the mission goals to boost the native content material by at least 45% in the course of the development part and lift it in the course of the operation part to 70%.”
His Excellency Mr. Mutlaq Damok Al-Ghuwairi, Chairman of the Board of Administrators of Bahour Funding Firm, added:
“Bahour Funding Firm is proud to take part on this alliance with Al Jomaih Energy and Water Firm and Nesma Group to develop the mission in cooperation with the Saudi Water Partnership Firm (SWPC) in a mission that embodies the success of the public-private partnership enterprise mannequin, and displays our firm’s dedication to actively contribute to main nationwide and improvement tasks. This mission is added to the bundle of tasks that Bahour Firm is working to implement within the water and power sectors with the identical mannequin and in solidarity with native and international companions with giant investments and financing that’s appropriate with the provisions of Sharia. The corporate is happy with its certified cadres and nationwide leaders working to steer and implement these tasks in a method that contributes to attaining native content material targets and the targets of Saudi Imaginative and prescient 2030.”
Faisal Al Turki, Chairman of Nesma Group, mentioned: “This achievement highlights what will be achieved when nationwide experience is united in the direction of a typical objective. Nesma is proud to contribute to a mission that helps Saudi Arabia’s imaginative and prescient in the direction of sustainability, resilience and long-term prosperity.”
It’s price noting that the Saudi Water Partnerships Firm (SWPC) is the federal government company supervising the providing of partnership tasks between the private and non-private sectors and managing long-term contracts within the water sector, as a part of its efforts to realize the targets of the Nationwide Water Technique and the Saudi Imaginative and prescient 2030.
About Al Jomaih Energy and Water Firm:
Based in 2007, Al Jomaih Energy and Water Firm is likely one of the main native buyers, builders and operators in public utility and infrastructure tasks, with a world presence. The corporate’s portfolio contains energy tasks with a complete manufacturing capability of 13 GW, along with a water manufacturing and transmission capability of 1,300,000 cubic meters per day in Saudi Arabia, the Center East and Asia. As a subsidiary of Al Jomaih Holding Group, Al Jomaih Energy and Water builds on a legacy spanning almost 90 years and a agency dedication to sustainability, to implement impactful infrastructure tasks that hold tempo with the aspirations of Saudi Imaginative and prescient 2030.
About Bahour Funding Firm:
Bahour Funding Firm, a Saudi funding firm, was established in 2020 and has grown quickly to turn out to be one of many Kingdom’s most distinguished lively buyers within the infrastructure, utilities, and strategic industrial sectors. Since 2022, the corporate has labored laborious to enter into various tasks and has achieved distinctive success in cooperation with main companions in these sectors by acquiring large tasks with investments price greater than 23 billion riyals within the power and water sectors. The corporate goals to develop the scope of its enterprise to incorporate different important and strategic investments inside and out of doors the Kingdom of Saudi Arabia.
About Nesma Group:
Based in 1979, Nesma is a number one privately owned Saudi firm working within the United Arab Emirates, Egypt and Turkey, along with its established presence within the native market within the Kingdom of Saudi Arabia. Nesma’s actions embrace a number of sectors; It’s working to develop its exercise in large-scale infrastructure tasks, as a number one firm within the fields of long-term improvement and funding. Additionally it is one of many most important firms investing within the rising Saudi financial system, and is proud to assist the targets and ambitions of the Saudi Imaginative and prescient 2030 program. Nesma aspires to be on the forefront among the many most prestigious firms in investing in varied sectors in all of the international locations wherein it operates, and is devoting its efforts to reworking revolutionary concepts right into a residing actuality that the enterprise sector and society can dwell and profit from.
Concerning the Saudi Water Partnership Firm (SWPC):
The Saudi Water Partnership Firm (SWPC) is a authorities entity owned by the Ministry of Finance, involved with growing water infrastructure tasks within the Kingdom in accordance with the public-private partnership (PPP) mannequin. Its duties embrace supervising the implementation of water desalination tasks, wastewater remedy, water transportation and strategic storage. SWPC can be the principle purchaser of desalinated and handled water within the Kingdom, and works with its native and worldwide companions to make sure the sustainability of water provides and improve nationwide water safety. Via its particular tasks, the corporate contributes to attaining the targets of the Nationwide Water Technique and supporting Saudi Imaginative and prescient 2030 by empowering the non-public sector and contributing to constructing an built-in and sustainable water sector.
