Prince Mohammad bin Nasser bin Abdulaziz Al Saud visits Shuqaiq Water and Electricity

Accompanying HRH in the visit were H. E. Dr. Madani A. Alagi, the Chairman of Shuqaiq Water and Electricity Company (SqWEC) and H.E. Fehied F. Al Shareef, Governor of the Saline Water Conversion Corporation. The visit included a reception, a welcome speech delivered by H.E. Dr. Madani Alagi and a presentation on the Plant.
H.E. Dr. Madani Alagi, the Chairman of Shuqaiq Water and Electricity Company, expressed his deep thanks and appreciation to His Royal Highness for honoring the company with his visit to the plant.

His Royal Highness’ tour of the plant is a reflection of the government’s keen attention to the achievements of its citizens. H.E. Dr. Madani Alagi said in his speech, “This project, where around 7 thousand staff members worked to accomplish it within 25 million hours without any occupational accidents affecting the workflow is the first project in Saudi Arabia to be completed 70 days ahead of schedule.”

The overall production capacity of the project is 212 thousand cubic meters of desalinated water daily and 850 MW/h which is exported to Jizan and Asir regions.

Shuqaiq Water & Electricity Company was established under the Royal Decree No. 45 issued in 1st of Safar 1428H to satisfy the need for water and electricity in Jizan and Aseer regions.

The Saudi legal reforms set up the general framework for one of the leading privatization programs in the country to allow investors to develop independent water and power projects (IWPPs). The Project is based on BOO (Build, Own & Operate) basis. It is the third IWPP project in the Kingdom tendered by the Water and Electricity Company which was established based on the Supreme Economic Council decision number 5 / 23 of the year of 1423H. The Supreme Economic Council decision regulates the framework for private sector participation in this type of project.

Shuqaiq Water & Electricity Company, which owns the Shuqaiq plant, is considered as a great example of the success of the Public Private Partnership in establishing vital and attractive projects. The list of shareholders includes the Public Investment Fund (32%), the Saudi Electricity Company (8%). The remaining 60% is owned by the Gulf Investment Company, Mitsubishi Company and the International Company for Water & Power Projects (ACWA Power International).

ACWA Power International is the lead developer of this project here construction commenced in March 2007. This is ACWA Power’s fourth I(W)PP among the seven projects it has developed in Saudi Arabia. Once all seven projects are completed they will produce 2.4 million cubic meters per day of desalinated water and 6500 MW/h of electricity throughout the Kingdom.