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Press Release
- Seawater RO desalination market in the Middle East forecast to be worth USD 2.8 billion by 2025
- Korea Eximbank to provide project financing worth KRW 260 billion
Doosan Heavy Industries & Construction succeeded in bagging an order for an KRW 780 billion seawater desalination plant in Saudi Arabia.
Doosan announced on January 25 that it had signed a contract to construct the Yanbu4 seawater desalination plant with a consortium, consisting of the French energy company Engie as the project developer and Saudi Arabian companies Mowah and Nesma.
The Yanbu4 seawater desalination plant will be applying the reverse osmosis (RO) process. It will be constructed in Ar Rayyis, located about 260 km north of Jeddah. The RO process is a water purification process that removes salt from seawater by using pressure to force water molecules through a semipermeable membrane.
Doosan plans to construct the Yanbu4 seawater desalination plant on an EPC basis, taking on the responsibilities of engineering, procurement and construction. Once constructed, the plant will supply 450,000 tons of potable water daily, enough for 1.5 million people in the Ar Rayyis region in the western part of Saudi Arabia.
“This order shows that Doosan’s technology has once again received recognition in the Middle East, where we expect to see more seawater RO desalination plants constructed. We plan to penetrate the Middle East’s seawater RO desalination market, as it is forecast to reach a value of USD 2.8 billion by 2025,” said Inwon Park, CEO of Doosan Heavy’s Plant EPC BG.
Following the Doha Phase 1 project in Kuwait in 2016, Shoaiba project in Saudi Arabia in 2017, and Sharqiyah seawater desalination project in Oman in 2018, Doosan continues its winning streak in the Middle East’s seawater desalination market by signing this contract for the Yanbu4 Seawater RO Desalination Plant.
Upon the request from Engie, the French company acting as project developer, Korea Eximbank has provided project financing amounting to KRW 260 billion (USD 238 million) and strong support on winning this project. It is the first time that Korea Eximbank has ever provided financial support for a seawater RO desalination project. Korea Eximbank is said to have plans to expand financing for projects in this sector.
▲ Yanbu4 Seawater Desalination Plant to be constructed in Al Rayyis in Western Saudi Arabia
