March 20, 2019

Financing sought for Jeddah project

A consortium comprising Saudi-based utilities provider Marafiq, Saudi-based private equity firm Amwal AlKhaleej, and France-based waste management specialist Veolia Environnement will initiate discussions with international banks to raise finance for developing the $273 million Jeddah Airport 2 sewage treatment plant in Saudi Arabia.

In January, the consortium was awarded a contract to design, build, finance and transfer the project.

Project construction is expected to proceed in two stages, beginning in the second quarter of 2019.

In September 2017 Mizuho Bank was appointed as financial advisor to the project.