Saudi Arabia Secures $500M for Industrial Wastewater Reuse Plant

A Marafiq-led consortium closes $500M in financing for an industrial wastewater reuse plant in Jubail, Saudi Arabia

9 Mar 2026

Saudi Arabia has secured $500 million in financing for what will become the Middle East’s largest industrial wastewater reuse plant. The deal signals growing investor confidence in the region’s rapidly expanding water treatment sector.

The financing closed on 23 February 2026 for the Amiral Industrial Wastewater Treatment and Reuse Project in Jubail Industrial City 2. The project is being developed by Aqua Renew Company, a special purpose vehicle owned by Marafiq, Veolia Middle East, and Lamar Arabia Energy. Four banks backed the financing package: First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Korea Development Bank, and Qatar National Bank.

Once completed, the plant will handle about 8.8 million cubic meters of industrial wastewater each year. The facility is designed to treat chemically complex effluents produced by the massive Amiral petrochemical complex now under construction in Jubail. Instead of disposing of these streams, the system will clean and recycle them back into industrial operations.

The plant will operate under a 30 year concession agreement with Satorp, the refining and petrochemical joint venture between Aramco and TotalEnergies. Commercial operations are expected to begin in 2028. The closed loop design reflects a shift in how industrial wastewater is viewed across the energy and petrochemical sectors.

For years, wastewater from complex industrial sites was treated mainly as a regulatory burden. The Jubail project suggests a different future, where reuse infrastructure attracts long term capital and becomes part of core industrial planning.

The investment also aligns with Saudi Arabia’s Vision 2030 goals, which emphasize resource efficiency and environmental resilience. As petrochemical output and upstream activity continue to expand across the Kingdom, the need for advanced water treatment and reuse systems is set to grow just as quickly.