Developers attend Riyadh-Qassim project meeting
27 November 2024
Local and international developers and contractors attended a developers conference organised recently by Saudi Water Partnership Company (SWPC) for the Riyadh-Qassim independent water transmission pipeline (IWTP) project in Riyadh.
According to an industry source, companies that sent representatives to the meeting include the local firms AlBawani Group, Alfanar Company, Lamar Holding, Vision Invest, Nesma Company, Mutlaq Al-Ghowairi Contracting Company and Buhur Investment and several China-headquartered firms.
The Riyadh-Qassim IWTP scheme will extend 859 kilometres (km), supplying both regions with potable water. It will have a transmission capacity of up to 685,000 cubic metres and feature 11 receiving gates.
SWPC expects to receive bids for the contract to develop the project by February next year.
The scheme is the third IWTP contract to be tendered by SWPC since 2022.
The first two are the 150km Rayis-Rabigh IWTP, which is under construction, and the 603km Jubail-Buraydah IWTP, which is under bid evaluation.
Like the first two IWTPs, the Riyadh-Qassim IWTP project will be developed using a 35-year build-own-operate-transfer (BOOT) contracting model. It is expected to reach commercial operations in the third quarter of 2029.
SWPC’s transaction advisory team comprises US/India’s Synergy Consulting as financial adviser and the local Amer Al-Amr and Germany’s Fichtner Consulting as legal and technical advisers, respectively.
SWPC’s obligations under the water transfer agreement will be guaranteed by a credit support agreement entered into by the Finance Ministry on behalf of the Saudi government.
The project is part of the kingdom’s National Water Strategy 2030, which aims to reduce the water demand-supply gap and ensure desalinated water accounts for 90% of national urban supply to reduce reliance on non-renewable ground sources.
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