A consortium comprising Abu Dhabi National Energy Company (TAQA), Vision International Investment Company (Vision Invest) and Singapore’s GIC has been awarded a contract to develop the Juranah Independent Strategic Water Reservoir Project (ISWR-1) in the Makkah region of Saudi Arabia.
TAQA said the consortium has won the Juranah ISWR-1 water infrastructure project estimated to cost AED1.5bn (€372m) to construct.
The consortium will be responsible for building, owning, and operating the water reservoir infrastructure for 30 years before transferring the ownership to the Saudi Water Partnership Company.
This project aims to ensure enough water for towns and cities across the country, especially during peak times in Makkah and Madinah during the Hajj pilgrimage.
TAQA said it will be the lead member for the operations and maintenance (O&M) activities through a standalone O&M company, which will be co-owned by Vision Invest. TAQA is taking a 35% share in the project company and a 50% stake in the O&M company.
Jasim Husain Thabet, TAQA’s group CEO and managing director, said: “We are honoured to be part of this pioneering consortium that will contribute significantly to developing the water infrastructure of Makkah City. This project aligns with TAQA’s commitment to sustainable development and innovation, and we look forward to delivering a robust and reliable water supply system for the community.”
Almidani, Vision Invest’s president and CEO, said: “Our collaboration with TAQA and GIC in this transformative project to improve Makkah City’s water infrastructure is a source of immense pride. It is an honour to deliver this project for the Saudi Water Partnership Company, and together with our partners, we are dedicated to establishing a resilient and sustainable water storage system in Juranah.
“This reflects our shared commitment to excellence and our unwavering focus on efficiently and reliably meeting the community’s needs.”
Meshary Al-Judaimi, group head of principal investment at GIC, said: “Winning the Juranah ISWR-1 project reinforces GIC’s role in supporting private sector participation in the development of the GCC economies.”
Khalid Al-Quraishi, CEO of the Saudi Water Partnership Company, said: “The project is the first of its kind in Saudi Arabia with the participation of the private sector, which comes after the launch of the National Water Strategy.
“The project will operate under the ownership, operation, and asset transfer system, and the commercial operation of the project will begin in the second quarter of 2027.”
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