Rabigh-3 IWP
Rabigh-3 IWP - a Seawater Reverse Osmosis Independent Water Project in Saudi Arabia. Capacity 600k m³/d. Winning consortium: ACWA Power + Saudi Brothers (SBCC). Water tariff: USD $0.534/m³. Status: Operational.
- Country
- Saudi Arabia
- Procurer
- SWPC
- City / region
- Rabigh (Red Sea)
- Capacity
- 600k m³/d
- Status
- Operational
- Water tariff
- USD $0.534/m³
Winning consortium
ACWA Power + Saudi Brothers (SBCC) - equity: ACWA 70% / SBCC 30%
Procurement timeline
- RFP: 2017
- Bid submission: Sep 2018
- Preferred bidder: Nov 2018
- Commercial close: Jan 2019
- Financial close: Mar 2019
- PCOD: May 2022
Financing
- Capex: USD 700 M (SAR 2.625bn)
- Debt: USD 550 M soft mini-perm
- Lenders: MUFG, SMBC, StanChart, Riyad Bank, KEXIM; refi 2024 KKR + Barings + HKMC + Clifford Capital + SuMi Trust + SBI Shinsei
- Tenor: Mini-perm; refi long-dated 2024
Technical scope
Process: SWRO + energy recovery
World-record low tariff at award 2018. Refinanced 2024
Notes
World-record at award.
EPC contractor: Abengoa / SEPCO III
Sources
Open the full SWRO IWP benchmark →Part of the GulfInfra · GCC Infrastructure Library - a free open-source benchmark of 136 public-private partnership procurements across the GCC. Methodology: how we build this.