SWPC achieves financial closure for Rabigh-4 Independent Water Plant project
Riyadh, November 01, 2023, The Saudi Water Partnership Company (SWPC) has successfully reached the financial closure for the Rabigh-4 Independent Water Plant (IWP), thanks to the collaboration of relevant authorities and private-sector developers. Rabigh-4, with a capacity of 600,000 m3/day, will be constructed and operated by the private sector for 25 years starting from Q1, 2026. The winning consortium, comprising ACWA Power, Almoayyed Group, and Haji Abdullah Alireza Company, will use reverse osmosis technology to produce potable water for the Makkah and Madinah regions. The project also includes storage tanks with a capacity of 1,200,000 m3/day to enhance water resource availability and reliability.
Engineer Khalid Al-Quraishi, CEO of SWPC, emphasized the successful financial closure despite shifting global market conditions, highlighting SWPC's commitment to supporting investment projects and increasing private-sector involvement. This initiative aligns with the goals of Saudi Arabia's Vision 2030, promoting job opportunities and local content development. Al-Quraishi noted that this achievement reflects investor confidence in the Saudi investment environment and its suitability for the private sector.