Alkhorayef consortium preferred bidder for Rayis pipeline project
RIYADH, July 26, 2023
Saudi Water Partnership Company (SWPC) has announced that a developer consortium of Saudi-based Alkhorayef Water and Power Technologies and Spanish utility major Cobra has emerged as the preferred bidder for the Rayis-Rabigh Independent Water Transmission Pipeline (IWTP) project, with a transmission capacity of 500,000 cu m per day.
The Rayis-Rabigh IWTP, considered the first of its kind that will be developed with the participation of the private sector, will be implemented on a build, operate and transfer (BOT) model.
The 150-km network will be instrumental in providing Makkah and Madinah regions with drinking water by Q1 2026 for a period of 35 years.
Of these, SWPC has finally selected the Alkhorayef-Cobra consortium as the preferred bidder for its levelised cost of SR1.25678, while a consortium of Vision International Investment Company, Abu Dhabi's – Taqa and Kuwait-based Gulf Investment Corporation (with SR1.45165 levelised cost) has been named the reserved bidder.
Alkhorayef Water and Power Technologies, which owns 50% of the consortium, will now work with the relevant stakeholders to take this project towards financial closing, said the company in its filing to the Saudi bourse Tadawul.
TradeArabia had earlier reported that 14 developer/developer consortiums had been prequalified by SWPC for the project including global players such as Japan's Marubeni Corporation and Chinese group Harbour Engineering Company.-TradeArabia News Service
