The issuance in July of the much-anticipated request for proposal (RFP) for the independent water and power project (IWPP) at Shouaiba (in western Saudi Arabia, near Jeddah) is creating a new template for project financing as the move toward privatization of power and water production in the Kingdom of Saudi Arabia begins in earnest. At stake under the RFP is a 60% interest in the project company that will develop, own and operate the oil-fired plant.
September 30 2004