"Taqa win water reservoir project in Makkah"

Taqa, a leading integrated utilities company, is thrilled to join the winning consortium for Saudi Arabia's Juranah Independent Strategic Water Reservoir Project. The consortium, comprising Vision Invest and GIC, has signed agreements with the procurer, SWPC. The groundbreaking Juranah ISWR-1 Project in Saudi Arabia marks a significant milestone with active private sector participation. Taqa, as the lead member, will oversee O&M activities through a dedicated company co-owned by Vision Invest. With an estimated total project cost of Dhs1.5 billion, debt funding is expected to cover around 80 billion, while Taqa holds a 35 billion share in the project company and 50% stake in the O&M company. In a momentous event, a signing ceremony took place in Riyadh on Dec. 31, 2023, graced by the presence of Abdulrahman Al-Fadley, the Minister of Environment, Water, and Agriculture of Saudi Arabia. As per the project agreement, the consortium will construct, own, and operate the water reservoir infrastructure for 30 years, eventually transferring ownership to SWPC. The project aims to address emergency municipal water demand across the Kingdom and cater to peak demand during the Hajj season in Makkah and Madinah. The strategically designed tanks boast a total storage capacity of 2,000,000 m³, while additional operational tanks with a capacity of 500,000 m³ will be developed under a DBT model to support potable water distribution.

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