Dr. Waleed Al-Nuwaiser in association with White & Case LLP advised SAUR, a leading French utility, in the negotiation and execution of a joint venture (JV) agreement and an operation and maintenance agreement with Marafiq, the Kingdom's power and water company that supplies utilities to the two key oil, gas and industrial zones of Jubail and Yanbu. The JV will operate and maintain the water and wastewater assets in the industrial city of Jubail.
Assets that will be operated by the JV include three desalination plants, water tanks, pumping stations, the local water supply network and the sewerage network, as well as two wastewater treatment plants. The financial details of the transactions have not been disclosed.
This new success for SAUR comes less than a year after its entry into a five year contract with the National Water Company (NWC) of Saudi Arabia, a transaction on which White & Case's Riyadh lawyers also advised. That contract entrusts SAUR and its local partner Zamil Operations, and Maintenance Company (Zomco), with the management of the water distribution network in the Holy City of Mecca and in the city of Taif.
"These two projects attest to the steady and promising liberalization of the water and wastewater sector in Saudi Arabia, as well as to White & Case's ability to advise on ground-breaking transactions in rapidly changing environments," said White & Case local partner Antoine Cousin.
White & Case's Riyadh lawyers advised on all aspects of the negotiation and execution of SAUR's JV agreement and operation and maintenance agreement with Marafiq, as well as its contract with the NWC. The team was led by Dr. Waleed Al-Nuwaiser and local partners Antoine Cousin and Charles-Henri Arminjon.
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