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Announcement of Alkhorayef Water and Power Technologies’ Consortium as the Preferred Bidder with Saudi Water Partnership Company for Rayis – Rabigh Independent Water Transmission Pipeline (IWTP) Build, Operate and Transfer (BOT) Project
| Element List | Explanation |
|---|---|
| Announcement Detail | Saudi Water Partnership Company announced on 24/07/2023 that Alkhorayef Water and Power Technologies’ Consortium has been selected as the Preferred Bidder for development of Rayis – Rabigh Independent Water Transmission Pipeline Project (IWTP) with a levelized cost of 1.25678 SAR/m3. Rayis – Rabigh IWTP is the first of its kind that will be developed on a Build-Operate-Transfer (BOT) Model in the Kingdom of Saudi Arabia. The project will be developed with a transmission capacity of 500,000 m3/day and a length of 150 km to provide Makkah and Madinah regions with drinking water by Q1 2026 for 35 years. Alkhorayef Water and Power Technologies owns 50% of the Consortium. Alkhorayef Water and Power Technologies will now work with the relevant stakeholders to take this project towards financial closing, and any developments in this regard will be announced in due course. Financial impact of this development will be disclosed upon signing to the agreement. |
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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