The financial package for the system is also in place, say industry sources for MEED.
The customer and the development team, which consists of Japanese Marubeni and UAE-based Abu Dhabi National Energy Company (Taqa), aimed to sign project agreement At the end of September, MEED reported in August.
Negotiations on tariffs and taxes have, however, extended beyond the original target date.
Aramco issued conditional allotment letter in February last year to the Japan / United Arab Emirates team after it emerged as the forerunner of the contract in November 2019.
Saudi Aramco received proposals from four bidding groups for the planned program on September 30, 2019.
The bidding groups were:
- Acwa Power (local) / GIC (Kuwait)
- Engie (France)
- Kepco (South Korea) / Al-Jumaih (Local)
- Marubeni (Japan) / Taqa (United Arab Emirates)
The project includes the previously planned Marjan CHP ISPP and the Tanajib desalination program, which were added to the scope of the program in the expression of interest.
Marjan ISPP is planned to have a power capacity of 700MW-900MW, with a steam capacity of between 1,152 and 3,054 kilograms per hour. The desalination component will have a capacity of 24,000 cubic meters per day (cm / d) – expandable to 34,000 cm / d by 2030.
The customer has appointed Japan’s Sumitomo Mitsui Banking Corporation as financial advisor for the project. Germany’s Fichtner Consulting Engineers was previously appointed technical consultant.
In October, MEED reported that stakeholders were discussing revising the project plan, following the customer’s request for an extension of the bid’s validity period for an undisclosed period.
A major new report from MEED looks at how the global shift away from fossil fuels is reshaping energy policy in the Middle East and North Africa, and its impact on business and project investment.
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