Yanbu privatisation plans hit the buffers
- From: Vol 10, Issue 7 (July 2009)
- Category: General
- Region: Middle East
- Country: United Arab Emirates
- Related Companies: Marafiq, Ministry of Water and Electricity , Public Investment Fund, Saline Water Conversion Corporation and Saudi Water and Electricity Company
Financial uncertainty has driven Marafiq to abandon private sector ownership and join forces with the Saline Water Conversion Corporation at Yanbu.
The planned Marafiq IWPP at Yanbu will be merged with SWCC’s greenfield Yanbu 3 IWPP under a deal announced by the Saudi Ministry of Water and Electricity on 14 July. The 550,000m3/d (121 MIGD) and 1700MW combined facility will be tendered on an EPC basis, with funding provided by the Saudi government.
A special purpose company (SPC ...
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