|
21 December 2006 -- SUEZ Energy International, in a consortium with Gulf Investment Corp. and Arabian Co. for Water & Power Projects signed a build, own, operate and transfer contract for a 2,750 MW and 800,000 m3/day independent water and power project (IWPP), located in Jubail, north east of Saudi Arabia. The consortium will own 60 percent of the project.
The Marafiq IWPP was awarded by the Power and Water Utility Company for Jubail and Yanbu (Marafiq) and will be built to supply water and electricity to industrial and non-industrial customers in the Jubail Industrial City and eastern province. The sale of the plant's entire energy and water output to the off-taker Marafiq is guaranteed in a 20-year power and water purchase agreement.
Total project cost is estimated at $3.4 billion which will be funded by a mix of debt and equity in the ratio of 82:18; the contract will generate a total turnover of $8.5 billion, over 20 years.
The Marafiq project represents approximately 10 percent of current total installed capacity in Saudi Arabia of 29,000 MW, which is planned to increase to 60,000 MW by 2020 to meet the nation's rapidly increasing energy demand.
The Marafiq IWPP will also be a substantial contributor to the country's water supply when it comes online in July 2009.
| 
Articles 
| View all PennWell sites | View all PennWell events
Add RSS Feed
