A consortium consisting of Abu Dhabi National Energy Company PSJC (TAQA), Vision International Investment Company (Vision Invest) and Gulf Investment Corp. (GIC) has won the Juranah Independent Strategic Water Reservoir Project (ISWR-1) in the Makkah region of Saudi Arabia.
The Juranah ISWR-1 Project is the first of its kind in the Kingdom of Saudi Arabia under a BOOT (build, own, operate, transfer) model, reflecting active private-sector involvement in essential water infrastructure development. The total project cost is estimated at AED 1.5 billion ($408 million), with debt funding expected to account for approximately 80 percent.
The consortium has signed the relevant project agreements with the procurer, Saudi Water Partnership Co. (SWPC).
TAQA will be the lead member for the operations and maintenance (O&M) activities through a specialized stand-alone O&M company, which will be co-owned by Vision Invest. TAQA is taking a 35 percent share in the proj