Marubeni-led group wins Shuqaiq 3 project
A consortium led by Marubeni Corporation is to invest $600 million in Shuqaiq 3 desalination plant project in Saudi Arabia.
The group comprising Marubeni, Abdul Latif Jameel Commercial Development Company (ALJ), Rawafid Alhadarah Holding and Acciona Agua has signed a 25-year water purchase agreement with Saudi’s Water and Electricity Company.
The project is for a 450,000 m3/d reverse osmosis desalination plant at Shuqaiq on the Red Sea coast. Commercial operation of the plant is set to begin in 2021.
The group of four formed a special purpose company that is 45 per cent owned by Marubeni, 30 per cent by ALJ, 15 per cent by Rawafid, and Acciona owns 10 per cent.
The project is the largest reverse osmosis plant with a Japanese backer anywhere in the world.