Financial close achieved for Red Sea PPP Development project in Saudi Arabia
The Red Sea Development Company (TRSDC) announced the financial close for a SAR 14.120 billion (US$ 3.76 billion) term loan facility and revolving credit facility. Four Saudi banks, Banque Saudi Fransi, Riyad Bank, Saudi British Bank, and Saudi National Bank, acted as Mandated Lead Arrangers, while HSBC served as Green Loan Coordinator on the transaction.
TRSDC is the developer for the Red Sea Project, which involves the construction of 50 resorts, offering up to 8,000 hotel rooms and more than 1,000 residential properties across 22 islands and six inland sites. The first phase of the development is expected to be completed in 2023. It includes 16 luxury hotels offering 3,000 rooms on five islands and two inland locations.
Country updates
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April 21, 2021
Financial close achieved for solar PPP in Saudi Arabia
A consortium of Masdar, EDF Renewables and Nesma has secured financing for the 300 MW solar park project in Saudi Arabia and started the process of construction works. Located 50 km southeast of...
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April 20, 2021
Aramco signed oil pipeline usage right agreement with EIG consortium
Aramco has signed a deal with a consortium led by EIG Global Energy Partners (EIG) to optimize its assets through a lease-and-lease-back agreement involving its stabilized crude oil pipeline network i...
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April 16, 2021
Financial close achieved for Wave 1 Schools PPP in Saudi Arabia
Ajyad Knowledge Company for Education and Training, Al Bawani Company Limited and Tatweer Buildings Company (TBC) have achieved the financial close for the first wave (Wave 1) of the Schools Infrastru...
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April 15, 2021
Construction works started for Solar PV plant PPP in Rabigh
Saudi Power Procurement Company has signed a Power Purchase Agreement (PPA) with Marubeni Corporation and Al Jomaih Energy & Water Company Limited in January 2021. In March 2021, a...
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April 14, 2021
Proposals received for Madinah 3 ISTP PPP
Saudi Water Partnership Company has received four proposals for Madinah 3 independent sewage treatment plant (ISTP). Located in western Saudi Arabia, the plant will have a total treatment ca...
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