BOOT group to build Jubail plant

Suez Energy International, Gulf Investment Corporation and Arabian Company for Water and Power Projects win IWPP

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By  Angela Giuffrida Published  December 30, 2006

A consortium made up of Suez Energy International, Gulf Investment Corporation and Arabian Company for Water and Power Projects, has signed a BOOT (build, own, operate, transfer) contract for the 2,750mW and 800,000m³-per-day Independent Water and Power Project (IWPP) in Jubail, Saudi Arabia. The US $3.4 billion (SR12.7 billion) project 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 the eastern province. It represents around 10% of current total installed capacity in Saudi Arabia of 29,000mW, which is planned to increase to 60,000mW by 2020 to meet the kingdom’s rapidly increasing energy demand. The IWPP will also be a substantial contributor to the country’s water supply when it comes online in July 2009. “The Suez Energy International team’s technically innovative approach proved to be an important factor in our success and differentiates us from the competition in the region,” said Dirk Beeuwsaert, CEO, SUEZ Energy International. “This huge project contains organisational, technological, financial and commercial features that result in a tariff giving considerable value to the off-taker, said Marafiq. “Winning this contract strengthens our reputation as successful developer in the region. The group is now the leading private developer in the Middle East, managing 8,200mW of installed power capacity.” Suez Energy International’s activities and investments in the Gulf started in 1994 with the development of the Al Manah project in Oman. In Abu Dhabi, the company is one of the three founding shareholders in Taweelah A1, one of the largest power and water desalination plants in the world.

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