Amaala multi-utilities contract is valued at $2bn
21 September 2023
The contract to develop and operate a multi-utilities infrastructure for the 4,155 square-kilometre Amaala tourism scheme on Saudi Arabia’s Red Sea coast is valued at $2bn, according to an industry source.
Red Sea Global recently awarded the Amaala multi-utilities contract to a team comprising France’s EDF and UAE-based Abu Dhabi Future Energy Company (Masdar).
The scope of the contract includes a 250MW solar power plant and 700 megawatt-hour battery energy storage system that will enable Amaala to be powered entirely by solar energy.
The work scope includes a seawater reverse osmosis plant with a peak capacity of 37,000 cubic metres a day, as well as a sewage treatment plant. Both will be powered by renewable energy.
MEED understands another French firm, Suez, will implement the water infrastructure component of the project.
Red Sea Global and the developer team have yet to confirm the engineering, procurement and construction and battery energy storage contractors for the project.
Amaala issued the tender for the contract in October 2021. It will be developed using a public-private partnership model.
In February 2022, Amaala appointed Austria-headquartered ILF Consulting Engineers as technical adviser for the multi-utilities project.
Concession agreement
The developer consortium will be responsible for the development; financing; engineering, procurement, construction and installation; testing and commissioning; insurance; ownership; operation and maintenance; and transfer of each of the infrastructure systems under a 25-year concession agreement.
Each infrastructure system will be transferred to Amaala at the end of the concession term.
Owned by Saudi Arabia’s sovereign wealth vehicle, the Public Investment Fund, Amaala includes three communities – Triple Bay, the Coastal Development and the Island – each consisting of several residential, hospitality and retail components.
Construction works on phase one of Triple Bay have started.
The scheme is part of the Amaala Tourism Destination Development project.
Amaala previously planned the project. In October 2022, Amaala merged with The Red Sea Development Company to form a new company called Red Sea Global, which is now implementing the project.
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