The ‘first-of-its-kind’ Dammam ISTP project moves ahead with project value of US$ 245mn
Saudi Water Partnership Company (SWPC) and the consortium led by the Metito Group and comprising the companies Mowah, and Orascom Construction (the Consortium) recently confirmed the successful financial closing of the Kingdom’s first independent sewage treatment plant (ISTP).
Its construction was awarded to the private sector under the Build-Own-Operate-Transfer (BOOT) concession model with a tenure of 25 years, in Dammam West in the Kingdom’s Eastern Province. The project is worth US$ 245mn (SAR 920mn) with the investment made up of a combination of equity and debt.
The Dammam ISTP has a designed capacity of 350,000 cubic meters per day and an initial capacity of 200,000 cubic meters per day and will serve the western region of Dammam.
“This agreement is a testament of SWPC’s commitment to support and encourage private sector participation in sustainable development by providing investors to participate in the implementation of lifeline water projects,” affirmed Khaled AlQureshi, CEO, SWPC.
The Consortium scope of work covers the entire investment and includes the EPC and O&M which will be executed by a wholly owned Saudi-based company established by the Consortium to serve the project – the Dammam West Company for Water.
“We are delighted to share a strategic milestone for the water and wastewater industry in MENASA region,” asserted Rami Ghandour, Managing Director, Metito, on behalf of the Consortium.
