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Power and Water Utility Company for Jubail and Yanbu (Marafiq) announces its joining the Al Haer Wastewater Treatment Plant Development Consortium with Miahona and NV Besix S.A.

2083
MARAFIQ
1.85 %
1446/01/11     17/07/2024 08:01:33

Element ListExplanation
Introduction Power and Water Utility Company for Jubail and Yanbu (Marafiq) announces that it has received an acceptance letter from Miahona Company on 16/07/2024, approving its inclusion in the consortium with Miahona Company and N.V. BESIX S.A. Sharjah branch for the Al-Haer independent sewage treatment plant project in Riyadh (“Project”).

The Project was previously awarded to the consortium of Miahona Company and N.V. BESIX S.A. Sharjah branch (“the Consortium”), and the Project Agreement was executed on March 10, 2024, with the Saudi Water Partnership Company (SWPC).

Marafiq will join the consortium as an "Other Member" and will own 35% of the Project Company, while Miahona will maintain a 45% stake in the Project Company.

Date of Award 2024-07-16 Corresponding to 1446-01-10
Counterparty Saudi Water Partnership Company, Miahona Company and N. V. BESIX S.A Sharjah branch
Project Value Excluding the finance cost, the Project Cost is One billion and five-hundred million Saudi Riyals (SAR 1,500,000,000).
Project Details The Project aims to develop an Independent Sewage Treatment Plant (ISTP) in Al Haer with a treatment capacity of 200,000 m3/day. It also includes Treated Sewage Effluent Special Facilities (TSESF), consisting of an approximately 32 km-long Treated Sewage Effluent (TSE) transmission system with a capacity of 400,000 m3/day, a TSE Pumping Station, and TSE storage tanks with a capacity of 200,000 m3. The goal is to support and maximize the use of the treated sewage effluent in the Kingdom. Project Agreement Duration is 25 years.
Related Parties None
Additional Information The positive financial impact of the operation of the Project is expected to be reflected on the Company's financial results starting from the first quarter of 2027.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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Last Price 49.65
Net Change 0.9 (+1.85%)
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