Marafiq, the leading provider of integrated utilities to industrial cities in Jubail and Yanbu, announced a strategic milestone: the financial close of the Admiral project to develop an industrial wastewater treatment and reuse plant in Jubail Industrial City II. This follows the fulfillment of all necessary requirements and conditions from relevant authorities. The total project value is SAR 1.875 billion (approximately USD 500 million), including financing costs.
General context and importance of the project
This project is a vital component of the infrastructure supporting the Amiral Petrochemical Complex, a massive joint venture between Saudi Aramco and France’s Total Energies, and one of the largest mixed-fluid cracking projects in the region. The new water treatment plant is designed to serve this giant complex, reflecting the integration of major industrial projects with the sustainable infrastructure projects that support them—a cornerstone in the growth of Jubail Industrial City as a global hub for downstream industries.
Funding and partnership details
The project will be executed by the project company, Aqua Renew, a consortium comprising Marafiq (40%), Veolia Middle East (35%), and Lamar Arabia Energy (25%). Financing agreements have been signed with a prestigious banking consortium including First Abu Dhabi Bank (FAB), Abu Dhabi Commercial Bank (ADCB), Korea Development Bank (KDB), and Qatar National Bank (QNB), underscoring the strong confidence of regional and international financial institutions in the project's viability and the strength of the Saudi economy.
Environmental and economic goals
The project aims to treat the complex industrial wastewater flows generated by the Admiral facility, including spent caustic waste, using advanced treatment systems and innovative recovery technologies. These technologies will enable the reintroduction of treated water into industrial processes, promoting circular economy practices, reducing freshwater consumption, and increasing energy efficiency. This approach represents a pivotal step towards minimizing the environmental impact of industrial activities and achieving the sustainability of natural resources.
Expected impact and alignment with Vision 2030
Achieving financial closure is a crucial milestone in the project's implementation and reflects Marafiq's commitment to supporting sustainable infrastructure and providing integrated solutions in the water and environmental services sectors. Locally, the project directly contributes to achieving the goals of Saudi Vision 2030, particularly in terms of enhancing environmental sustainability, developing the industrial sector, and implementing circular economy principles. Regionally, it sets a new benchmark for industrial wastewater treatment projects in the Gulf region and presents a successful model for public-private partnerships in the execution of vital infrastructure projects.
