– TAQA, Vision Invest, and GIC have secured approximately $408 million for the Juranah Independent Strategic Water Reservoir Project (ISWR-1) in Saudi Arabia, marking the first private sector participation under the National Water Strategy.
– The consortium will build, own, and operate the ISWR-1 project for 30 years before transferring ownership to the Saudi Water Partnership Company (SWPC), with commercial operations set to begin in Q2 2027.
– The project is financed with about 82% debt from local and international banks, including Alinma Bank, Banque Saudi Fransi (BSF), Saudi Investment Bank (SAIB), and Commercial Bank of Dubai (CBD). TAQA holds a 35% stake in the project company and a 50% share in the operations and maintenance company.
Abu Dhabi National Energy Company PSJC (TAQA), Vision International Investment Company (Vision Invest), and Gulf Investment Corporation (GIC) have secured approximately 1.5 billion dirhams ($408 million) for a water project in Saudi Arabia.
The consortium will build, own, and operate the Juranah Independent Strategic Water Reservoir Project (ISWR-1) for 30 years before transferring ownership to the Saudi Water Partnership Company (SWPC).
This project, the first in Saudi Arabia with private sector participation under the National Water Strategy, is set to begin commercial operations in Q2 2027.
The project cost, around AED 1.5 billion, is financed with about 82% debt from local and international banks, including Alinma Bank, Banque Saudi Fransi (BSF), Saudi Investment Bank (SAIB), and Commercial Bank of Dubai (CBD).
TAQA, an Abu Dhabi-based diversified utilities and energy group, holds a 35% stake in the project company and a 50% share in the operations and maintenance company, which it will lead.
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