Riyadh - Mubasher: The International Water Distribution Company (Tawzea) has financially closed on 5 November the Independent Sewage Treatment Plant (ISTP) project in Taif city.
The announcement was made on Sunday by the Saudi Arabian Amiantit Company and Saudi Industrial Services Company (SISCO), which co-own Tawzea.
The financial closing was done in collaboration with the consortium Tawzea formed with the Cobra Instalaciones y Servicios (Cobra) to develop, finance, construct, commission, operate, own, and maintain the 100,000 cubic metres per day ISTP. The ISTP ownership will be then transferred to the Saudi Water Partnership Company (SWPC).
This project has been financed at a total cost of more than SAR 318 million (approx. $84 million).
The material effect of the announcement is expected to reflect after the plant commences operations at the end of 2022, the statement added.
