Financial close reached in the Taif, Saudi Arabia, wastewater treatment plant project

The Saudi Water Partnerships Company (SWPC) and the consortium formed by Tedagua (represented by its parent company, Cobra Instalaciones y Servicios) and International Water Distribution Company Ltd. (Tawzea), have announced that they have reached the financial close for the Taif independent wastewater treatment plant, which will enable works to start immediately.

The Tedagua - Tawzea consortium will develop and finance the wastewater treatment plant via a BOOT contract, providing engineering, procurement, construction, implementation, ownership, operation and maintenance services during 25 years, subsequently transferring ownership to the Saudi Water Partnerships Company.

During the first phase, the plant will be built to treat a volume of 100,000 m3/day, with operations expected to begin during Q3 2022. During the second phase, the plant's capacity will be increased to 270,000 m3/day, beginning operations when required based on an increase in the population.

Despite the global liquidity crises and ever-changing market conditions heavily influenced by COVID-19, the Saudi Water Partnerships Company and the Consortium successfully completed the financial close procedures working closely with the project funding agents. The project, with a total cost in the ballpark of 320 million riyals (approximately 71 million euros), has been financed by a local bank after creation of the Taif Independent Water Plant Company consortium, which will manage and operate the plant after its construction for a 25-year period, within the framework of a model public-private partnership.