Riyadh - Mubasher: Power and Water Utility Company for Jubail and Yanbu (Marafiq) has completed the financial closure of the Amiral Industrial Wastewater Treatment and Reuse Project in Jubail Industrial City 2, which is valued at $500 million (around SAR 1.87 billion).
The announcement followed the fulfillment of all required conditions and approvals from the relevant shareholders, according to a bourse filing.
Meanwhile, the financing agreements were signed with the lending group: First Abu Dhabi Bank (FAB), Abu Dhabi Commercial Bank (ADCB), Korea Development Bank (KDB), and Qatar National Bank (QNB).
The project is being developed through a consortium under a special purpose vehicle (SPV), Aqua Renew Company, jointly owned by Marafiq (40%), Veolia Middle East (35%), and Lamar Arabia for Energy (25%).
The facility will treat complex industrial wastewater streams, including spent caustic, using advanced treatment and recovery technologies. It will also enable reintegration of treated water into industrial operations, supporting a circular economy.
Achieving financial closure reflects Marafiq’s commitment to sustainable infrastructure, integrated utilities, and environmental solutions. The project also contributes to resource efficiency and supports Saudi Arabia’s Vision 2030 objectives for industrial and environmental sustainability.
At the end of September 2025, Marafiq registered an annual growth of 2.88% in net profits to SAR 398.21 million, compared with SAR 387.06 million.
