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10 October 2007 - Marafiq, which was Saudi Arabia's first private integrated utilities company, is seeking tenders from national and international companies for the proposed 1700 MW and 150 000 m3 per day independent water and power project (IWPP) at Yanbu Industrial City.
The final date for submission of the statements of qualifications is 25 October 2007, Zaid Abdulrahman Al-Buti, general manager of IWPP at Marafiq, with bids due on April 30, 2008.
Marafiq will have a 40 per cent shareholding in the build, own, operate and transfer project. The remaining 60 per cent of the shares will be tendered to pre-qualified developers.
A specific onshore site has been selected for the IWPP, and the plant will be fueled by heavy fuel oil or crude oil.
The IWPP will benefit from a 25-year power and water purchase agreement (PWPA) with a new company (Newco), that Marafiq has set up and has full ownership of.
Newco will be structured on an energy conversion basis. It will supply all power and water capacity and output to Marafiq, which in turn will supply the power and utility requirements of the Yanbu Industrial City.
The project's commercial operation date is expected before April 2012.
Yanbu Industrial City is one of the fastest growing areas in Saudi Arabia, and benefits from a strong base of large and established industrial customers such as Sabic and Saudi Aramco-owned or affiliated plants, and several other independent industries.
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