Leading Advisors in Project Finance

  • Bids Submitted for Tanajib Cogeneration And Desalination Project

    11 October 2019

    On September 30, 2019, Marubeni submitted a bid to Saudi Aramco for the construction of new cogeneration and desalination facilities, to be located in the Eastern Province of Saudi Arabia – the Tanajib Cogeneration and Desalination Project.

    The project is comprised of the Marjan cogeneration ISPP, which is planned to have a power capacity of 700 – 900 MW and a steam capacity of 1,152 – 3,054-kilo pounds per hour.  This cogeneration facility will be developed alongside the Tanajib desalination project, which will have a capacity of 24,000 cubic meters of freshwater per day.  This will be expandable to 34,000 cubic meters of freshwater per day by 2030.  Marubeni was one of four teams who submitted bids for the project, with financial close for the winning bidder scheduled for February 2020.

    Operis was pleased to provide a formal model audit as part of the bid submission, including a review of the tax and accounting advice to the model.


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