TAQA Secures BOOT Contract for Juranah Water Reservoir Project

3 January 2024

TAQA Secures BOOT Contract for Juranah Water Reservoir Project

TAQA Secures BOOT Contract for Juranah Water Reservoir Project in Makkah

Abu Dhabi National Energy Company (TAQA), in collaboration with Vision Invest and Gulf Investment Corporation, has emerged victorious in securing the BOOT (Build, Own, Operate, Transfer) contract for the Juranah Independent Strategic Water Reservoir Project (ISWR-1) in the Makkah region of Saudi Arabia.Announcing this milestone, TAQA revealed that the consortium, which includes Vision Invest and Gulf Investment Corporation, signed agreements with the procurer, Saudi Water Partnership Company (SWPC), in a regulatory filing with Abu Dhabi Securities Exchange (ADX).

The Juranah ISWR-1 Project is a groundbreaking initiative in Saudi Arabia, operating under the BOOT model, which signifies active private sector participation in crucial water infrastructure development. The project’s primary objective is to address emergency municipal water demand across the Kingdom and peak demand in Makkah and Madinah during the Hajj season.

The strategic tanks will have a total storage capacity of 2,000,000 m3, with additional operational tanks of 500,000 m3 capacity developed under a DBT (Design, Built, Transfer) model to support the potable water distribution system.

TAQA will lead the operations and maintenance (O&M) activities through a specialized standalone company in partnership with Vision Invest, holding a 35 percent share in the project company and a 50 percent stake in the O&M company.

Khalid Al-Quraishi, CEO of SWPC, highlighted, “The project is the first of its kind in Saudi Arabia with private sector participation, following the launch of the National Water Strategy. The commercial operation is set to begin in the second quarter of 2027, contributing to reduced electrical energy consumption and increasing water availability by 100 percent.”

The Juranah Independent Strategic Water Reservoir Project signifies a historic step towards securing water resources in the region, showcasing the Kingdom’s commitment to fostering public-private partnerships for sustainable development.

Jasim Husain Thabet, TAQA’s Group CEO and Managing Director, expressed, “We are honored to be part of this pioneering consortium that will significantly contribute to developing the water infrastructure of Makkah City. This project aligns with TAQA’s commitment to sustainable development and innovation.”

Explore Opportunities with Guildhall Recruitment

Are you seeking exciting opportunities in groundbreaking projects like the Juranah ISWR-1 Project? Guildhall Recruitment specializes in executive search and recruitment services, connecting skilled professionals with top-tier companies across various industries.

Discover your potential with Guildhall Recruitment and take the next step in your career. Contact us for unparalleled executive search and recruitment solutions.

 

3 January 2024

TAQA Secures BOOT Contract for Juranah Water Reservoir Project

SWPC water reservoir

Leave a Comment

Your email address will not be published. Required fields are marked *

Related Posts