Jubail waste plant secures funding: The Power and Water Utility Company for Jubail and Yanbu (Marafiq) reached financial close on the USD 500 mn (SAR 1.9 bn) Amiral industrial wastewater treatment and reuse project in Jubail Industrial City 2, according to a Tadawul disclosure. The financing package was secured through a consortium of lenders including First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Korea Development Bank, and Qatar National Bank.

Ownership breakdown: The project sits under Aqua Renew Company, an SPV owned by Marafiq (40%), Veolia Middle East (35%), and Lamar Arabia for Energy (25%). The SPV was established following a 30-year concession agreement with Saudi Aramco Refining and Petrochemical Company (Satorp), an Aramco-TotalEnergies joint venture.

Execution is already spoken for: In September last year, France’s Veolia and Egypt’s Orascom secured the civil works and a 30-year O&M contract, with operations to begin in 2028.

About the facility: The facility will use advanced treatment and recovery technologies to process industrial effluents, including spent caustic streams, and convert them into demineralized water for reuse at the Amiral petrochemical complex, which Satorp is developing.

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