SaudiGulf Projects - Updates - 10 September 2020
- 4 years ago
#saudigulfprojects
https://www.saudigulfprojects.com/
ACWA Power announces the financial closure of Jubail 3A IWP
Saudi Arabia’s ACWA Power, announced in a statement the the successful signing of senior financing agreements, financial closure of Jubail 3A IWP (Independent Water Producer) project.
Jubail-3A IWP will utilize reverse osmosis (RO) technology to yield a capacity of 600,000 cubic meters a day. The value of the project is US$650 million.
As per the statement, the transaction is financed through limited recourse ring-fenced project financing with Al Rajhi Bank, Abu Dhabi Islamic Bank (ADIB), Riyad Bank and Mizuho Bank being the initial mandated lead arrangers.
In addition, Riyad Bank and Bank AlJazira have already provided equity bridge loans for the transaction.
Dubai received the world’s lowest tariff for 120 MIGD Hassyan IWP
Dubai Electricity & Water Authority (DEWA) received the bids for first Independent Water Producer (IWP) model project, Hassyan IWP, which was re-tendered in June 2020.
The plant capacity will be 120 Million Gallons Per Day (MIGD) and will utilize the Sea Water Reverse Osmosis (SWRO) technology.
Following are the two Consortium submitted the proposals:
UTICO-UAE- $ 0.277 per cubic meter
ACWA Power -Saudi Arabia- $0.298 per cubic meter
The submitted lowest tariff is sets the world record in terms of the low levelized water cost, which is lower than the initial tender offers.
DEWA stated in a statement that, it has adopted IWP for the Hassyan desalination plant, following the success of the Independent Power Producer (IPP) model at the Mohammed bin Rashid Al Maktoum Solar Park projects.
Saudi Arabia’s ACWA Power announced in statement regarding the financial closure of the 900MW solar PV project, the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai.
The project involves the construction of a state of the art 900MW solar PV plant, using bi-facial panels with tracking technology. The approximate project cost will be $564 million.
The financing group to the Project included Abu Dhabi Islamic Bank, Arab Petroleum Investment Corporation, Industrial and Commercial Bank of China, Emirates NBD Bank, Natixis, SAMBA Financial Group, Standard Chartered Bank and Warba Bank.
Additionally, a project recourse mezzanine tranche was provided by Commercial Bank International and equity bridge facilities provided by Commercial Bank of Dubai, Emirates NBD Bank and Mashreq bank.
Projacs secured PMC contract of Riyadh Airport
Riyadh Airports Company awarded Project Management Consultancy (PMC) services contract related to King Khalid International Airport (KKIA), Riyadh.
The project has been awarded to Projacs, a subsidiary of global engineering firm, Egis.
As per the deal, Projacs will be project management consultant for design review, construction management and supervision of new airside infrastructure.
Its scope of work includes the review and approval of contractors’ technical deliverables relat
https://www.saudigulfprojects.com/
ACWA Power announces the financial closure of Jubail 3A IWP
Saudi Arabia’s ACWA Power, announced in a statement the the successful signing of senior financing agreements, financial closure of Jubail 3A IWP (Independent Water Producer) project.
Jubail-3A IWP will utilize reverse osmosis (RO) technology to yield a capacity of 600,000 cubic meters a day. The value of the project is US$650 million.
As per the statement, the transaction is financed through limited recourse ring-fenced project financing with Al Rajhi Bank, Abu Dhabi Islamic Bank (ADIB), Riyad Bank and Mizuho Bank being the initial mandated lead arrangers.
In addition, Riyad Bank and Bank AlJazira have already provided equity bridge loans for the transaction.
Dubai received the world’s lowest tariff for 120 MIGD Hassyan IWP
Dubai Electricity & Water Authority (DEWA) received the bids for first Independent Water Producer (IWP) model project, Hassyan IWP, which was re-tendered in June 2020.
The plant capacity will be 120 Million Gallons Per Day (MIGD) and will utilize the Sea Water Reverse Osmosis (SWRO) technology.
Following are the two Consortium submitted the proposals:
UTICO-UAE- $ 0.277 per cubic meter
ACWA Power -Saudi Arabia- $0.298 per cubic meter
The submitted lowest tariff is sets the world record in terms of the low levelized water cost, which is lower than the initial tender offers.
DEWA stated in a statement that, it has adopted IWP for the Hassyan desalination plant, following the success of the Independent Power Producer (IPP) model at the Mohammed bin Rashid Al Maktoum Solar Park projects.
Saudi Arabia’s ACWA Power announced in statement regarding the financial closure of the 900MW solar PV project, the fifth phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai.
The project involves the construction of a state of the art 900MW solar PV plant, using bi-facial panels with tracking technology. The approximate project cost will be $564 million.
The financing group to the Project included Abu Dhabi Islamic Bank, Arab Petroleum Investment Corporation, Industrial and Commercial Bank of China, Emirates NBD Bank, Natixis, SAMBA Financial Group, Standard Chartered Bank and Warba Bank.
Additionally, a project recourse mezzanine tranche was provided by Commercial Bank International and equity bridge facilities provided by Commercial Bank of Dubai, Emirates NBD Bank and Mashreq bank.
Projacs secured PMC contract of Riyadh Airport
Riyadh Airports Company awarded Project Management Consultancy (PMC) services contract related to King Khalid International Airport (KKIA), Riyadh.
The project has been awarded to Projacs, a subsidiary of global engineering firm, Egis.
As per the deal, Projacs will be project management consultant for design review, construction management and supervision of new airside infrastructure.
Its scope of work includes the review and approval of contractors’ technical deliverables relat