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FINANCIAL NEWS
Banks submit bids for Saudi’s SWCC privatization of USD7.2bn power plant
02 Aug 2017
(MENAFN) Many banks have submitted offers to Saudi’s Saline Water Conversion Corp for the privatization of its USD7.2bn Ras Al Khair desalination and power plant.
Moreover, Mizuho, BNP Paribas and GIB Capital were amid banks to have submitted offers to act as adviser on the plan.
The USD7.2bn Ras Al Khair desalination and power plant will be capable of receiving 1.025bn cubic meters of desalinated water every day to Riyadh and many other areas.
Accordingly, the request of proposals for the deal went out in June, with one of the sources proclaiming other banks approached for the deal involved Sumitomo Mitsui Banking, HSBC and Standard Chartered.
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