MARAFIQ announces financial closure of Amiral water treatment project

MARAFIQ says project costs $500 million including financing cost

Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) announced the successful financial closure of the Amiral Industrial Wastewater Treatment and Reuse Project in Jubail Industrial City 2, following the fulfillment of all required conditions and approvals from the relevant stakeholders.

In a statement to Tadawul, the company said that the special purpose vehicle (Aqua Renew Co.), jointly owned by MARAFIQ (40%), Veolia Middle East (35%), and Lamar Arabia Energy (25%), executed the financing agreements with the lending group consisting of First Abu Dhabi Bank (FAB), Abu Dhabi Commercial Bank (ADCB), Korea Development Bank (KDB), and Qatar National Bank (QNB).

The total project cost is $500 million (SAR 1.875 billion) including financing cost, the statement added, noting that there is no increase in project costs.

The project aims to treat complex industrial wastewater streams generated from the Amiral facility, including spent caustic, utilizing advanced treatment systems and innovative recovery technologies that enable reintegration of treated water back into industrial operations, supporting closed-loop reuse and improved energy efficiency.

Achieving financial closure marks a significant milestone toward the implementation of this strategic project. It reflects MARAFIQ’s commitment to advancing sustainable infrastructure, delivering integrated utilities and environmental solutions, enhancing resource efficiency, reducing industrial environmental impact, and contributing to the Kingdom’s vision 2030 broader objectives in environmental resilience and industrial circular economy.

In September 2025, MARAFIQ signed a 30-year concession agreement with Saudi Aramco Total Refining and Petrochemical Co. (SATORP) for the treatment and reuse of industrial wastewater generated by the Amiral Facility, Argaam reported.