Marafiq Joins Alliance to Develop Al-Haer Sewage Treatment Plant with Miahona and BESIX

Power and Water Utility Company for Jubail and Yanbu (Marafiq) announced on Wednesday that it has received an acceptance letter from Miahona Company on 16/07/2024, approving its inclusion in the consortium with Miahona Company and N.V. BESIX S.A. Sharjah branch for the Al-Haer independent sewage treatment plant project in Riyadh. The project is valued at 1.5 billion riyals, excluding finance costs.

Previously, the consortium of Miahona Company and N.V. BESIX S.A. Sharjah branch was awarded the project, and the project agreement was executed on March 10, 2024, with the Saudi Water Partnership Company (SWPC).

Marafiq joined the consortium as an “Other Member” and will own 35% of the Project Company, while Miahona will maintain a 45% stake. The project aims to develop an Independent Sewage Treatment Plant (ISTP) in Al Haer with a treatment capacity of 200,000 m3/day. It also includes Treated Sewage Effluent Special Facilities (TSESF), consisting of an approximately 32 km-long Treated Sewage Effluent (TSE) transmission system with a capacity of 400,000 m3/day, a TSE Pumping Station, and TSE storage tanks with a capacity of 200,000 m3. The goal is to support and maximize the use of treated sewage effluent in the Kingdom. The project agreement duration is 25 years.

Marafiq explained today on Tadawul that the positive financial impact of the project’s operation is expected to be reflected in the company’s financial results starting from the first quarter of 2027