Middle East Economic Survey

VOL. LII

No 19

11-May-2009

SAUDI ARABIA

Ras Al-Zour Change Raises Questions About IWPP Process, WECs Role

The Saudi Arabian authorities have decided to implement the $5bn Ras al-Zour independent water and power project (IWPP) on an engineering, procurement and development (EPC) basis, rather than via the development consortium it chose as a preferred bidder last year (MEES, 4 May). Although a huge chunk of debt funding was in place for the project, which was being...