The Red Sea Project is being created as a unique, luxury tourism destination that will embrace nature, culture and adventure, setting new standards in sustainable development and positioning Saudi Arabia on the global tourism map.
Saudi Tabreed is having 15% share in the PPP utilities concession under BOOT framework with the Red Sea Development Company to supply cooling services to the Red Sea project through two District Cooling Plants each of 16,250 TR. This agreement makes Saudi Tabreed the exclusive provider of cooling services to the Red Sea Project.
- AREA Western Coast of Saudi Arabia, between the cities of Umluj and Al Wajh
- AREA TYPE Island Gateways, Mountain Retreats and Desert Adventures
- TERM 25 Years
- CONTRACT CAPACITY 32,500 TR
- TYPE Build, own, operate and transfer
- PROJECT SPONSORS Saudi Tabreed/Acwa Power
- TARIFF Capacity Charge, Consumption Charge
- OFF-TAKER The Red Sea Development Company