The consortium member, Marafiq announce the successful financial closure of the Amiral Industrial Wastewater Treatment and Reuse Project in Jubail Industrial City 2.
The Special Purpose Vehicle (Aqua Renew Company), jointly owned by Marafiq (40%), Veolia Middle East (35%), and Lamar Arabia Energy (25%), has executed the financing agreements with the lending group consisting of: First Abu Dhabi Bank (FAB), Abu Dhabi Commercial Bank (ADCB), Korea Development Bank (KDB), and Qatar National Bank (QNB).
The total project cost is (USD 500 million), equivalent to approximately (SAR 1.875 billion), including financing cost.
The project aims to treat complex industrial wastewater streams generated from the Amiral facility, including spent caustic, utilizing advanced treatment systems and innovative recovery technologies that enable reintegration of treated water back into industrial operations, supporting closed-loop reuse and improved energy efficiency.
Achieving financial close marks a significant milestone toward the implementation of this strategic project. It reflects Marafiq’s commitment to advancing sustainable infrastructure, delivering integrated utilities and environmental solutions, enhancing resource efficiency, reducing industrial environmental impact, and contributing to the Kingdom’s vision 2030 broader objectives in environmental resilience and industrial circular economy.
Related: Marafiq, Veolia and Lamar Arabia signs $500 million IWWTP Project
