The Power and Water Utility Company for Jubail and Yanbu (Marafiq) has issued a request for proposals for the Yanbu independent water and power project (IWPP). The deadline for bids is 27 August.
A total of 12 companies and consortiums were prequalified for the project in November.
The successful bidder will build, own, operate and transfer the 1,700MW, 33-million-gallon-a-day IWPP. The plant will be fired using heavy fuel oil, with Arabian Light Crude as a back-up.
The developer will hold 60 per cent of the project company with the remaining 40 per cent held by Marafiq.
The project company will sell the power and water produced to a new off-taker company in Yanbu under a 25-year power and water purchase agreement, with credit support from the Ministry of Finance (MEED 29:11:07).
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