Mowah-led alliance reaches financial close of Jafurah water project

Logo of Mowah

A consortium comprising Saudi developer Mowah, Albawani and Lamar Holding achieved financial closure for the seawater reverse osmosis desalination plant in Jafurah.

In a statement to Argaam, the project has an 80,000m3/daily reverse osmosis plant and a 200 kilometer-distribution network supplying water to Aramco’s Jafurah gas development scheme., in addition to electrical interconnection facilities in the Eastern Province at a total estimated cost of nearly $750 million.

The company which is 51%-owned by Mowah, 39% by Albawani and 10% by Lamar Holding signed a water purchase agreement in July 2023 with Saudi Aramco to operate facilities on a 20-year build-own-operate-transfer (BOOT) basis. Commercial operations are scheduled to start in October 2025.

Sami Al Rayes, CEO of Mowah, said that his company is ready to enter into a partnership with Saudi Aramco in this major project. “Wwe’re proud to lead the development and implementation of this project. We’re looking forward to utilizing Mowah’s vast experience in the development of water infrastructure and operations, in order to help the project achieve its goals,” he added.

Mowah’s Deputy CEO, Faisal Al Rayes, said Mowah is pleased to sign this project contract with Saudi Aramco, in partnership with Albawani and Lamar, describing the project as an integral part of Mowah’s long-term growth strategy. Mowah is committed to implementing this strategy by utilizing all potentials and capabilities of its team and contractors.

Mowah provides applicable solutions to meet increasing demand for water, power and sewage treatment in the region and international markets through different business models. It currently serves more than 2.5 million end users every day. Mowah is a leading provider of PPP infrastructure projects using the BOO and BOOT schemes.

The company continues to focus on PPP infrastructure projects and plans to develop these projects. It developed major water projects in PPP, such as south Riyadh Independent Sewage Treatment Plants (ISTP) project and he Yanbu-4 IWP plant.