Advisory team appointed for NEOM utilities project

19 Aug 2021
Advisory team appointed for NEOM utilities project

Technical and legal advisers have been appointed to complete the advisory team for a planned 500,000 cubic metre a day (cm/d) desalination project at the NEOM development in Saudi Arabia

Technical and legal advisers have been appointed to complete the advisory team for a planned 500,000 cubic metre a day (cm/d) desalination project at the NEOM development in Saudi Arabia.

Energy & Utilities recently reported that Sumitomo Mitsui Banking Corporation (SMBC) had been appointed as financial advisor (FA) for the planned independent water producer (IWP) project at the NEOM development.

According to sources close to the scheme, Worley Parsons has been appointed as technical advisor and Linklaters has been appointed as legal adviser for the project.

The desalination plant is expected to have a capacity of 500,000 cubic metres a day (cm/d) and is planned to have zero-brine discharge, which would add to the capital cost of the project.

NEOM is planning to use reverse osmosis (RO) membrane and hybrid technologies to achieve more than 60 per cent recovery, efficiencies and cost reductions.

The $500bn NEOM development on the Red Sea Coast of Saudi Arabia is a key part of Saudi Arabia’s Vision 2030 economic plan to diversify the kingdom’s economy away from its dependence on oil.

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