Miahona says Al-Haer ISTP achieves financial closure, costs SAR 1.5B
Miahona Co. achieved the financial close for Al-Haer independent sewage treatment plant (ISTP) project in Riyadh at a total cost of SAR 1.5 billion, according to a statement to Tadawul.
The project duration is 25 years, and the expenses do not include the financing costs.
Miahona's stake in the project consortium is 45%.
The facilities agreements were sealed on Feb. 7, after fulfilling all requirements and conditions with a group of financiers, namely, Banque Saudi Fransi (BSF), APICORP and Riyad Bank.
The project will be developed on a build, own, operate and transfer (BOOT) basis with a treatment capacity of 200,000 m3/day.
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