Emaar, The Economic City signs MoU with SETE Energy Saudia

Jeddah, Saudi Arabia, August 5, 2007: Emaar, The Economic City (Emaar.E.C), the Tadawul-listed company developing King Abdullah Economic City (KAEC), has signed a Memorandum of Understanding (MoU) with SETE Energy Saudia for Industrial Projects Ltd for setting up a desalination plant on Engineering, Procurement and Construction (EPC) basis. 

Dr Abdulraouf Mannaa, Managing Director, Emaar.E.C, and Mr George Antonopoulos, CEO, SETE Energy Saudia, signed the MoU, for the 70,000 cubic metre per day sea water reverse osmosis plant, which will meet the needs of the first phase of KAEC, the single largest private sector-led development in the region. 

“To ensure a city of this size with various zones operates efficiently, it is imperative for KAEC to have a strong infrastructure,” said Dr Mannaa. “Water supply is an important infrastructural component and to ensure efficient access to water, we have joined hands with SETE Energy Saudia, a company that has proven track record in undertaking water desalination operations in the Kingdom.”

Mr Antonopoulos added: “KAEC is one of the pioneering developments in Saudi Arabia and we are excited to have the opportunity to provide our water desalination technology and know-how for this futuristic city.”   

The plant will be completed in five stages with the first phase to be executed in one year. The rest of the phases will be completed in 21 months. On completion, the plant will be equipped to meet all the water requirements for the first phase of KAEC including the Industrial Zone, Residential Communities and Resorts. 

Located on the Red Sea coast, KAEC has six key components: the Sea Port, Industrial Zone, Central Business District (including the Financial District), Resort District, Educational Zone and Residential Communities. Work is progressing according to schedule on the Industrial Zone, Residential and Resorts Districts. Potential investors can visit the KAEC Presentation Centre for more details and for registrations.