Saudi Water Partnership Company (SWPC), the principal off-taker for water and wastewater projects in Saudi Arabia, has invited expressions of interest (EOI) for the development of Al-Ahsa and Eastern Province Independent Strategic Water Reservoir Project. 

SWPC said in a statement dated 20 December 2021 that the project would comprise of two water reservoirs, namely Eastern Province independent strategic water reservoir with an indicative water storage capacity of 3,510,000 cubic metres, and Al-Ahsa independent strategic water reservoir with an indicative storage capacity of 1,389,000 cubic metres. 

Both the reservoirs would be located in the Eastern Province. 

The statement said the project would be procured on Build-Own-Operate-Transfer (BOOT) basis, and the successful bidder will provide the required storage capacity to SWPC under a 30-Year Water Storage Agreement (WSA) through a project company, adding that SWPC’s obligations under the WSA will be supported by a credit support agreement from the Saudi government. 

The deadline for the submission of EoI documents is 6 January 2022, the SWPC statement said. 

The advisors on the project are Synergy Consulting IFA as Lead and Financial Adviser; Amer Al Amr Law Firm as Legal Adviser; and WSP Middle East as Technical Adviser. 

(Writing by SA Kader; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com) 

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021