Abu Dhabi National Energy Company (TAQA) is part of the winning consortium for the Juranah Independent Strategic Water Reservoir Project (ISWR-1) in the Makkah region of Saudi Arabia.
In a regulatory filing with Abu Dhabi Securities Exchange (ADX), TAQA said the consortium includes Saudi’s Vision International Investment Company (Vision Invest) and Gulf Investment Corporation (GIC) and signed the agreements with procurer, Saudi Water Partnership Company (SWPC).
The Juranah ISWR-1 Project is the first of its kind in the Kingdom of Saudi Arabia under a BOOT (Build, Own, Operate, Transfer) model, reflecting active private sector involvement in essential water infrastructure development.
The consortium will be responsible for building, owning, and operating the infrastructure for a period of 30 years before transferring the ownership to SWPC. The primary objective of the project is to respond to emergency municipal water demand for all the Kingdom’s regions and to peak demand in Makkah and Madinah during the Hajj season.
The strategic tanks have a total storage capacity of 2,000,000 m3. Additionally, operational tanks with a capacity of 500,000 m3 will be developed under a DBT (Design, Built, Transfer) model to support the potable water distribution system.
TAQA will be the lead member for the operations and maintenance (O&M) activities through a specialised standalone company in partnership with Vision Invest.
Eighty percent of the company is expected to be funded by debt funding. The project will be built at an estimated cost of AED1.5 billion ($410 million). TAQA will have a 35 percent share in the project company and a 50 percent stake in the O&M company.
Khalid Al-Quraishi, CEO of the SWPC, said: “The project is the first of its kind in Saudi Arabia with the participation of the private sector, which comes after the launch of the National Water Strategy. The project will operate under the BOOT system, and the commercial operation of the project will begin in the second quarter of 2027.
“The project will contribute to reducing levels of electrical energy consumption, as the project includes solar energy units and increase the availability of stored water by 100 percent.”
The Juranah Independent Strategic Water Reservoir Project marks a historic step toward securing water resources in the region and exemplifies the Kingdom’s desire to fostering public-private partnerships for sustainable development.
Jasim Husain Thabet, TAQA’s Group Chief Executive Officer and Managing Director, commented: “We are honoured to be part of this pioneering consortium that will contribute significantly to developing the water infrastructure of Makkah City. This project aligns with TAQA’s commitment to sustainable development and innovation, and we look forward to delivering a robust and reliable water supply system for the community.”
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