Special – “NEOM” selects international companies to provide technical and financial advice for the desalination project

Informed sources reported to Al Arabiya.net that the Saudi company “NEOM” has commissioned 3 companies to provide technical and financial advice for the gigantic project of the NEOM desalination plant, in one moment in which the Kingdom is accelerating the pace of construction to be completed according to a specific schedule.

One of the sources said Japanese banking group Sumitomo Mitsui “SMBC” was chosen to provide financial advice on the giant project, which will be implemented. in multiple phases, while Linklaters and Worley Parsons were chosen to provide technical advice on the project.

According to the site web of the city of NEOM, the special desalination plant aims to supply water to an entire region, as this project will go through three or more phases, with an initial capacity of 300,000 cubic meters per day, a second phase with a capacity of 333,000 cubic meters per day, and a third phase with a total capacity of one million cubic square meters per day.

NEOM plans to use high-efficiency, low-cost technologies that will achieve more than 60% recovery, such as recovery membranes, reverse osmosis and advanced hybrid fluidless exhaust (ZLD) technologies to protect the environment.

Another banking source added that the project could be financed by credit lines in which local banks will participate.

According to sources, technical bids for the project will be submitted later in the early next year.

Read More About: Business News