Riyadh - Mubasher: The National Shipping Company of Saudi Arabia (Bahri) signed a SAR 760 million agreement with Saline Water Conversion Corporation (SWCC) to supply desalinated water from floating mobile stations to desalination tanks.

Under the agreement, three floating stations to desalinate water will be established, according to Tadawul’s statement on Tuesday.

The agreement also includes the transfer of desalinated water from the floating stations to desalination tanks with a capacity of 50,000 cubic metres per day for each station, with a total capacity of 150,000 cubic metres a day.

Bahri referred that the 20-year project, which is funded through self-financing as well as bank loans, is set to be run on the commercial operation date, expected to start in the first quarter of 2021 (Q1-21).

The company further remarked that the SWCC is committed to purchasing the water production from the project during the agreement period.

The project’s expected financial impact will be registered starting from the commercial operation date until the end of the agreement period, Bahri said, noting that It will be announced later.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.