{"id":84695,"date":"2024-03-25T00:00:00","date_gmt":"2024-03-25T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/alkhorayef-reaches-financial-close-water-project-serving-makkah-and-madinah\/"},"modified":"2024-03-25T00:00:00","modified_gmt":"2024-03-25T00:00:00","slug":"alkhorayef-reaches-financial-close-water-project-serving-makkah-and-madinah","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/03\/25\/alkhorayef-reaches-financial-close-water-project-serving-makkah-and-madinah\/","title":{"rendered":"Alkhorayef reaches financial close water project serving Makkah and Madinah"},"content":{"rendered":"

A consortium led by Alkhorayef Water and Power Technologies has <\/strong>achieved financial close<\/strong> on the Rayis\u2013Rabigh independent water transmission pipeline (IWTP) project, it said in a disclosure to Tadawul<\/a> yesterday. The project is the first of its kind in the Kingdom to be developed on a build-operate-transfer basis.<\/strong><\/p>\n

What we know: <\/strong>The consortium, which includes Spanish infrastructure company Cobra, will spend SAR 2.4 bn to build the infrastructure. The 35-year contract is worth SAR 8.4 bn; Alkhorayef Water holds a 50% stake in the consortium.<\/p>\n

The specifics<\/strong>:<\/b> The 150 km pipeline will provide drinking water to Makkah and Madinah. Construction is set to last 30 months and the pipeline should be operational by 2Q 2026.<\/p>\n

A bidding war: <\/strong>The project was awarded in September<\/a> last year after a bidding war between 31 companies, including 14 local firms. Some of the bidders included<\/a> Abu Dhabi\u2019s Taqa as well as Nesma and Ajlan & Bros.<\/p>\n","protected":false},"excerpt":{"rendered":"

The planned IWTP project is the first of its kind in the Kingdom to be developed on a build-operate-transfer (BOT) model<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2547],"tags":[66],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84695","post","type-post","status-publish","format-standard","hentry","category-infrastructure","tag-infrastructure","wpautop","entry"],"acf":{"mongo_id":"cd1e2a5d-4039-4a5b-93a8-ebfb9ca786cc","is_powered_by":false,"story_type":"1","photo_url":"","photo_position":"above","homepage_title":"","full_issue_title":"Alkhorayef reaches financial close water project serving Makkah and Madinah","related_issue":[84687],"teaser":"The planned IWTP project is the first of its kind in the Kingdom to be developed on a build-operate-transfer (BOT) model","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.ace5b1ed-cc60-4a1e-a4e3-c14f9f76a2cc.mp3"},"yoast_head":"\nAlkhorayef reaches financial close water project serving Makkah and Madinah - 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