Saudi Water Partnership Company (SWPC), in association with a private consortium, has achieved financial close on the Jubail 3B Independent Water Project (IWP).

The project, which is a key part of the water schemes in Saudi Arabia developed under the public-private-partnership (PPP) structure, is expected to start commercial operation in 2024.

The consortium, comprising France-headquartered ENGIE (40 percent), Saudi-based Nesma Company Limited (30 percent) and Abdulaziz Al Ajlan Sons for Commercial and Real Estate Investment Ajlan And Bros Company (30 percent), was picked as preferred bidder on the project in April.