– Consortium to invest over US$ 600m in large-scale desalination plant in Shuqaiq, creating 700 jobs to supply water for over 1.8 million people and industry.
– Plant will be one of the largest desalination plants based on reverse osmosis technology globally, with capacity of 450,000 cubic meters per day.
Almar Water Solutions, through Abdul Latif Jameel, has been awarded a contract to develop a desalination plant in the city of Shuqaiq, on the Red Sea coast of Saudi Arabia. Over $600m will be invested in the project, creating 700 jobs, in line with Saudi Arabia’s 2030 Vision and its objectives to increase investment and employment opportunities.
The large-scale plant will have a capacity of 450,000 cubic meters per day, guaranteeing reliable drinking water for over 1.8 million citizens. Scheduled for completion in Q4 2021, the project will be developed under a 25-year build-own-operate (BOO) scheme contract.
A consortium comprising Marubeni Corporation, Abdul Latif Jameel Commercial Development Company, Acciona Agua and Rawafid Alhadarah Holding Co. signed the Water Purchase Agreement during the ceremony took place on Riyadh last 29th January 2019.
Eng. Abdulrahman Al Fadley, HE Minister of Environment, Water and Agriculture, Chairman of the Water and Electricity Company, Chairman of the Supervisory Committee for Privatization in the Environment, Water and Agriculture Sectors added: “Water desalination is an important area of focus for Saudi Arabia, with water security one of the most pressing and challenging development issues globally, but particularly in the Middle East. This project will mark a major milestone in the continued improvement of Saudi Arabia’s water infrastructure.”
Carlos Cosín, CEO of Almar Water Solutions added: “Innovative energy-intensive water schemes are essential to meeting the rising demand of our region and the world’s growing population for water. With decades of proven international expertise in this field, we are committed to providing the people of Saudi Arabia with sustainable and effective water solutions. We look forward to the completion of the project, which will guarantee safe and reliable drinking water supply for over one million people.”
According to the World Bank, the Middle East and North Africa is home to 6% of the world’s population and less than 2% of the world’s renewable water supply and includes twelve of the world’s most water scarce countries. Almar Water Solutions is committed to becoming a global leader in the water solutions sector, addressing the water security needs of the region and the world’s growing population through a sustainable program of desalination, water and waste water treatment and recycling and reuse initiatives.
About Almar Water Solutions
Almar Water Solutions is a company specializing in the development, promotion, financing, design and operation of water infrastructure. Its team of professionals, with over two decades of experience in 25 countries leading major water infrastructure projects, works tirelessly to develop integral solutions that meet growing needs for water in the municipal and industrial sectors.
About Abdul Latif Jameel
Abdul Latif Jameel refers broadly to distinct separate and independent legal entities whose interests encompass automotive distribution, auto parts manufacturing, financial services, renewable energy, environmental services, land and real estate development, logistics, electronics retailing and media services. Abdul Latif Jameel positions itself as a preferred business partner primarily for inward investment into the Middle East, North Africa and Turkey (MENAT) region.