Image Credits : Saudi Gulf Projects
1 minute read

TAQA Consortium awarded $408.4 million Juranah Water Reservoir Project in Makkah

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

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

The total project cost is estimated at AED 1.5bn, with debt funding expected to account for approximately 80%. TAQA is taking a 35% share in the project company and a 50% stake in the O&M company.

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