The Saudi Water Partnership Company has announced the financial close of the Jubail–Buraidah Independent Water Transmission Pipeline Project, with a total cost of c. USD 2.3 billion, to be developed by Aljomaih Energy and Water Company, Buhur for Investment Company and Nesma Company Limited (the “Sponsors”).
Cranmore Partners has acted as sole and exclusive financial advisor to the Sponsors on the Project, from pre-bid to financial close.
The senior debt financing was secured through a diverse bank group, including Al Rajhi Bank, National Infrastructure Fund, Abu Dhabi Commercial Bank, First Abu Dhabi Bank, Bank Aljazira, Saudi Awwal Bank, The Arab Energy Fund and Saudi Investment Bank.
One of the largest water transmission projects in the Kingdom and globally, the Project will transport potable water from the Eastern Province to the Qassim region, with capability for reverse flow operations, to ensure continuous water supply through the year.
It will be developed under a Build, Own, Operate, and Transfer (BOOT) model under a 35-year agreement starting from the commercial operation date (COD) scheduled for 2029.
As part of the national vision to strengthen water security, the Project has a transmission capacity of 650,000 m3/d, water storage capacity of 1,634,500 m3, and a pipeline length of 587 km.
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