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SWPC Announces Financial Close for Juranah Independent Strategic Water Reservoir

Abu Dhabi National Energy Company PSJC (TAQA), UAE, has announced its participation in the winning consortium for the Juranah Independent Strategic Water Reservoir Project (ISWR-1) in the Makkah region of Saudi Arabia. The consortium, which includes Vision International Investment Company (Vision Invest) and Gulf Investment Corporation (GIC), has signed the necessary project agreements with the procurer, Saudi Water Partnership Company (SWPC).

The Juranah ISWR-1 Project is the first of its kind in Saudi Arabia, operating under a BOOT (Build, Own, Operate, Transfer) model. This model showcases active private sector involvement in essential water infrastructure development. TAQA will lead the operations and maintenance (O&M) activities through a specialized standalone O&M company, co-owned by Vision Invest.

The total project cost is estimated at AED 1.5 billion, with debt funding expected to cover approximately 80% of the cost. TAQA will hold a 35% share in the project company and a 50% stake in the O&M company.

To mark the occasion, a signing ceremony was held in Riyadh on December 31, 2023, attended by His Excellency Abdulrahman Al-Fadley, Minister of Environment, Water, and Agriculture of Saudi Arabia. Under the project’s terms, the consortium will be responsible for building, owning, and operating the water reservoir infrastructure for 30 years before transferring ownership to SWPC. The project’s primary objective is to meet emergency municipal water demand across the Kingdom and address peak demand in Makkah and Madinah during the Hajj season. The strategic tanks will have a total storage capacity of 2,000,000 m³, with additional operational tanks of 500,000 m³ developed under a DBT (Design, Build, Transfer) model to support the potable water distribution system.

This landmark project demonstrates the collaborative efforts of Vision Invest, Gulf Investment

Corporation, and TAQA. By integrating cutting-edge technology and sustainable practices, the consortium aims to ensure a reliable and efficient water supply for the region.

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