Saudi IWPP project costs rise
- From: Vol 6, Issue 6 (June 2005)
- Category: General
- Region: Middle East
- Country:
- Related Companies: ABN Amro, ACWA Power, Arab Bank, Hermes, Korea Exim Bank, Malakoff, Riyad Bank, Saudi Hollandi and Tenaga Nasional Bhd
The Shoaiba IWPP will cost $700 million more than first anticipated once development costs and finance charges have been taken into account. The cost of the IWPP programme has also risen.
Saudi Arabia’s Water & Electricity Company (WEC) has revised its cost estimates for the Kingdom’s IWPP programme. The four initial projects – at Shoaiba, Shuqaiq, Ras Al-Zour and Jubail – had been valued at around $6.1 billion, but this amount has risen to just short of $8 billion under new capital cost estimates released by WEC.
The Shoaiba plant, which ...
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