Projects Financing

In most power projects, BEMCO has arranged project financing to accommodate the owner's shortage when the yearly allocation funds does not match construction progress and when payment tenures are longer than construction. Some of these finances include long-term project structures financing as well as deferred payment options with tenures between 5-10 years. As the power sector evolves, BEMCO continues to pioneer this concept at the forefront of the movement.

Since its inception, BEMCO has pioneered and initiated several concepts for the implementation of Independent Power Projects (IPP) in the kingdom of Saudia Arabia. This initiative has been conveyed to government and utility officials by way of presentations and proposals for specific projects. In this process, BEMCO has worked with international developers and financial institutions, thus acquiring a great degree of experience and know-how in the integration of the development activities within the bidding and construction phases of these transactions. For this purpose, joint ventures with international developers and manufacturers of equipment have been established to integrate the international know-how and technologies with the experience of local contractors.

Partial List of Project Development Studies & Proposals:

  • 1,200 MW Shoaiba CC Power Plant- 1991 study and presentation conducted by GE, BECHTEL, and BEMCO for SCECO, West
  • 1,750 MW Shoaiba Steam Power Plant- 1997, official tender for BOO concept for SCECO- West, Joint Venture BEMCO-ENRON
  • 1,050 MW Shoaiba Steam Power Plant- 1998, Official Tender for Structures Project Financing for SCECO- West, Joint Venture BEMCO-ENRON
  • 25,000 m3/day STP- 2000/2001, Official tender for BOT concept for Jeddah Industrial City, Upgrading and expansion of existing STP
  • 150 MW CC Power Plant- 2001, Tender for BOO Concept for Hadeed Iron and Steel Company.
  • 480 MW PP9 Power Plant- 2004, Implementation of Deferred Payment Project Financing.
  • 350 MW Marib-2 Power Plant 2005, Proposal for Long-Term financing for the Ministry of Electricity in Yemen.
  • 36,000 m3/day Desalination Plant- 2006, Official tender for BOT concept for the General Authority of Civil Aviation (GACA)- Joint Venture BEMCO-GE