The shortlist includes most major developers active in the region, including the local Acwa Power Projects, the UK’s International Power, Japan’s Marubeni Corporation and Belgium’s Suez-Tractebel.
The multi-billion dollar scheme will involves the construction of a 1,500-1,700-MW, heavy oil-fired power plant and a 33-million-gallon-a-day desalination plant at Yanbu on the Red Sea, 350 kilometres north of Jeddah.
The scheme will be developed on a build-own-operate basis, with Marafiq holding 40 per cent and the remainder held by the successful private developer group (MEED 20:10:07).
The client is expected to issue the request for proposal documents soon, although it says it still has to fully evaluate the prequalification application from two other groups.
A team led by HSBC, which includes law firm Allen & Overy and German technical advisers Lahmeyer International, is working with Marafiq on the project.
Yanbu is the second independent water and power project to be developed by Marafiq. A power and water purchase agreement for the Jubail plant in the Eastern Province was signed with Belgium’s Suez Energy International in January.
Prequalifiers (local, unless stated)
- Acwa Power Projects, with Korea Electric Power Corporation (Kepco)
- International Power, UK, with Oasis International Power
- Marubeni Corporation, Japan
- Mitsubishi Corporation, Japan
- Mitsui & Company, Japan
- Powertek Berhad, Malaysia
- Sembcorp Utilities, Singapore
- Suez-Tractebel, Belgium
- Sumitomo Corporation, Japan
- Tenaga Nasional Berhad, Malaysia
- Union Fenosa, Spain