Media & Downloads
Press Releases

24 January 2006


Khazanah Nasional Berhad (“Khazanah”) is pleased to announce that on 24 January 2006, Shuaibah Water and Electricity Company (“the Project Company”) has successfully achieved financial close for the Shuaibah Phase 3 Independent Water and Power Project (“the Project”).

The total project costs of USD2.5 billion is funded by a multi-tranche financing on a debt equity ratio of 80:20 comprising commercial facilities of USD875 million, Islamic financing of USD210 million, export credit financing of USD400 million from Hermes and USD455 million from Export-Import Bank of Korea (“K-Exim”) and balance from funds internally generated from the Project and equity bridge loan of approximately USD500 million. In addition, the financing also comprise USD72 million of standby commercial debt and USD18 million of standby equity bridge loan to cover any costs overruns.

The Project Company is 60% owned by the Saudi-Malaysia Water & Electricity Company Limited (“SAMAWEC”), a Saudi-Malaysia joint venture consortium, with the balance 40% interest in the Project Company to be held by Government of Saudi Arabia related entities. Khazanah through its wholly owned subsidiary, Desaru Investments (Cayman Island) Limited (“Desaru”) has a 12% effective equity interest in the Project Company.

Achieving the financial close marks another milestone for the Project which is the largest Greenfield IWPP project in the world. The project has been awarded PFI Power Deal of the Year for Europe Middle East and Africa.

Khazanah is positive on the long term prospect of the Project and the region. Khazanah will continue to look at future opportunities to participate in the Privatisation Program of the Government of KSA.

Other Press Releases
6 July 2022

Khazanah’s Investments in Türkiye Underscore th...

Read more  

10 June 2022

Khazanah launches sustainability framework and tar...

Read more  

5 June 2022

Khazanah celebrates World Environment Day at Taman...

Read more  

20 May 2022

Khazanah forms strategic partnership to grow Cenvi...

Read more  

15 April 2022

Khazanah raises RM 535.5 million from CIMB Group H...

Read more  

2 March 2022

Khazanah continues growing its portfolio value, an...

Read more  

20 December 2021

Khazanah and Yayasan Hasanah pledge RM7.5 million ...

Read more  

29 October 2021

Statement by Dato’ Amirul Feisal Wan Zahir, Mana...

Read more  

10 September 2021

Khazanah raises RM664.5 million from CIMB Group sh...

Read more  

12 August 2021

Khazanah ready to play its role under PERKUKUH...

Read more