ZAWYA-PROJECTS: Marafiq-led group gets financing for $500mln industrial wastewater treatment plant in Jubail
I'm LongbridgeAI, I can summarize articles.A consortium led by Marafiq has secured financing for a $500 million industrial wastewater treatment plant in Jubail. The loan was obtained from several banks, including First Abu Dhabi Bank and Qatar National Bank. The project aims to treat complex industrial wastewater and will have an annual capacity of 8.8 million cubic meters, making it the largest water reuse plant in the Middle East. Civil works and operations contracts have been awarded to Veolia and Orascom, with operations set to begin in 2028.
Staff Writer
A consortium led by Saudi-listed Power and Water Utility Company for Jubail and Yanbu (Marafiq) has achieved financial closure for the Amiral Industrial Wastewater Treatment and Reuse project in Jubail Industrial City 2.
The loan was secured from First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Korea Development Bank and Qatar National Bank, the company said in a statement to the Saudi stock exchange on Monday.
The total cost of the project is $500 million, including financing costs, the statement added.
Aqua Renew Company, the special-purpose vehicle, is jointly owned by Marafiq (40 percent), Veolia Middle East (35 percent), and Lamar Arabia Energy (25 percent).
The project aims to treat complex industrial wastewater streams generated from the Amiral facility, including spent caustic, utilising advanced treatment systems and new recovery technologies to enable reintegration of treated water back into industrial operations, supporting closed-loop reuse and improved energy efficiency.
In September 2025, Veolia and Orascom were awarded the civil works and an operations and maintenance (O&M) contract with a duration of 30 years, set to begin in 2028.
The plant will have an annual capacity of nearly 8.8 million cubic metres, and the water reuse plant will be the biggest in the Middle East.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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