Aljomaih team engages lenders for $2.2bn water pipeline PPP
7 March 2025
A developer team led by Riyadh-headquartered Aljomaih Energy & Water has engaged lenders for the SR8.5bn ($2.2bn) independent water transmission pipeline (IWTP) project it recently won in Saudi Arabia.
The consortium signed a contract agreement to develop and operate Saudi Arabia’s second IWTP project with Saudi Water Partnership Company (SWPC) this week.
The project will link Jubail in the kingdom’s Eastern Province and Buraydah in the Qassim region over a 587-kilometre (km) pipeline that can transmit 650,000 cubic metres a day (cm/d) of water.
In addition to Aljomaih Energy & Water, the winning developer consortium includes Nesma Company and Buhur for Investment Company.
The team of lenders, which may still change, comprises mainly Saudi and some regional entities, a source close to the project tells MEED.
UK-headquartered Herbert, Smith & Freehills (HSF) is providing legal advisory services, while Dubai-based Future Water & Power Consulting (FWPC) is providing technical advisory services to the lenders.
The Aljomaih, Nesma and Buhur team proposed to develop the Jubail-Buraydah IWTP project for SR3.59468 a cubic metre.
The consortium saw off competition from another team comprising the local Vision Invest and UAE-based Abu Dhabi National Energy Company (Taqa).
The Vision Invest/Taqa team offered to develop the project for SR5.04214/cm.
The Jubail-Buraydah IWTP project is larger than the kingdom’s first IWTP linking Rayis and Rabigh, which a consortium including the local Alkhorayef Water & Power Technologies Company and Spain’s Cobra Instalaciones y Servicios will develop and operate at a cost of SR7.78bn ($2bn).
SWPC issued the request for proposals for the Jubail-Buraydah IWTP scheme to prequalified bidders in October 2023.
The transaction advisory team for the client comprises the 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.
An advisory team comprising UAE-based financial advisory Cranmore, UK legal advisory services firm Pinsent Masons and Canadian engineering services firm WSP advised the winning developer consortium.
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 the national urban supply to reduce reliance on non-renewable ground sources.
READ THE MARCH MEED BUSINESS REVIEW – clck here to view PDF
Chinese contractors win record market share; Cairo grapples with political and fiscal challenges; Stronger upstream project spending beckons in 2025
Distributed to senior decision-makers in the region and around the world, the March 2025 edition of MEED Business Review includes:
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> AGENDA 1: Chinese firms dominate region’s projects market
> AGENDA 2: China construction at pivotal juncture
> UPSTREAM 1: Offshore oil and gas sees steady capex
> UPSTREAM 2: Saudi Arabia to retain upstream dominance
> DIRIYAH: Diriyah CEO sets the record straight
> SAUDI POWER: Saudi power projects hit record high
> AUTOMOTIVE: Saudi Arabia gears up to lead Gulf’s automotive sector
> EGYPT: Egypt battles structural issues
> GULF PROJECTS INDEX: Gulf hits six-month growth streak
> CONTRACT AWARDS: High-value deals signed in power and industrial sectors
> ECONOMIC DATA: Data drives regional projects
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Dubai seeks consultants for drainage projects6 February 2026
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Egypt contractor secures €58m loan for Hungary power plant6 February 2026
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AD Ports signs Jordan Aqaba port PPP deal6 February 2026
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Chinese firm wins Ceer automotive supplier park deal6 February 2026
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The bid submission deadline is 26 February.
The first scheme under the package is TF-16-C1, which involves upgrading and rehabilitating the stormwater system east of the Dubai Canal.
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Modon tenders Ras El-Hekma construction contracts
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Abu Dhabi-based developer Modon Holding has tendered several contracts as part of the first phase of development at Ras El-Hekma, a planned new city on Egypt’s Mediterranean coast.
MEED understands that the tenders were issued in January.
These include:
DP3 assets: covering 146 residential villas, 590 three-bedroom townhouses, 356 four-bedroom townhouses, a mall and other associated works.
Bids due on 23 February.
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Modon has accelerated development works at Ras El-Hekma this year. In January, MEED reported that Modon Holding had awarded a E£15bn ($316m) contract for the construction of a project at Ras El-Hekma.
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The signing ceremony was held at the Aqaba Special Economic Zone Authority headquarters in Aqaba on 5 February.
The agreement was signed by Hussein Safadi, CEO of ADC, and Ahmed Al-Mutawa, regional CEO of AD Ports Group.
Aqaba port handles about 80% of Jordan’s exports and 65% of its imports.
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In 2025, the terminal handled over 5.3 million tonnes of cargo and nearly 85,000 car equivalent units of Ro-Ro imports.
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The announcement followed AD Ports Group’s signing of a shareholders’ agreement in January 2024 between its digital arm, Maqta Gateway, and Jordan’s Aqaba Development Corporation regarding their existing joint-venture company, Maqta Ayla.
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Chinese firm wins Ceer automotive supplier park deal
6 February 2026
Beijing-headquartered Metallurgical Construction Corporation (MCC) has won a contract to undertake the steel structure works on the Ceer automotive supplier park in King Abdullah Economic City (KAEC).
The supplier park is located next to Ceer’s electric vehicle (EV) production facility in KAEC.
The automotive supplier park will include production and ancillary facilities for various suppliers and provide the material supply infrastructure for Ceer’s EV plant.
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