Funding secured for upgrading two desalination plants: The Saudi Water Authority (SWA) signed a SAR 2.43 bn (USD 650 mn) financing agreement with the Asian Infrastructure Investment Bank (AIIB) and the National Infrastructure Fund (Infra) to develop the infrastructure of the Jubail – Phase 1 and Al Khobar – Phase 2 desalination plants, the authority said on X.

The breakdown: AIIB will provide around USD 450 mn of the total financing, while Infra will contribute the remaining USD 200 mn, state news agency SPA reports.

Where will the money go? The agreement will support a project announced earlier this year, for the replacement of multi-stage flash desalination with reverse osmosis desalination technology. The project aims to reduce energy consumption, raise water production, and extend the lifespan of both plants by 20 years, SPA reported.

A record breaker: Al Khobar Phase 2 plant has already set a global record as the largest seawater reverse osmosis facility, producing drinking water at some 670k cbm per day.

IN OTHER DEBT NEWS-

SFD to finance Tunisia’s reclamation project: The Saudi Fund for Development agreed to fund the Southern Oasis Hub Project in Tunisia under a USD 38 mn loan agreement it signed with the country’s Economy and Planning Ministry, it said on X.

More details: The project will reclaim over 1k hectares of farmland, where 22 wells and 285 homes will be built. This aims to support the development of rural areas through the enlargement of villages and their infrastructure, including roads, water networks, and public services, like schooling institutions, cultural centers, and shopping markets.

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