PROJECTS: Saudi-Spanish JV to build water recycling plant in NEOM

Staff Writer

A joint venture between International Water Distribution Company (Tawzea), a subsidiary of Sustainable Infrastructure Holding Company (SISCO) and Lantania, a Spain-based water and renewable energy company, has signed a contract with NEOM to develop the Al-Badaa water recycling plant.

The 24-month contract is valued at 316 million Saudi riyals ($84.25 million), the company said in a statement to the Saudi stock exchange on Tuesday.

The equally owned joint venture will focus on the engineering, procurement, construction, testing, and commissioning of the Al-Badaa project. The contract will also include the development of an interim biosolids treatment facility, an interim innovation centre, and a biosolids demonstration centre.

SISCO and Saudi Arabian Amiantit Company each own a 50 percent stake in Tawzea.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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