ENGIE and SUEZ sign MoU with JEC for Kingdom City Project in Jeddah, Saudi Arabia
The project is a major urban development project in Obhur, north of Jeddah.
A Memorandum of Understanding (MoU) has been signed by ENGIE and SUEZ with the Jeddah Economic Company (JEC) to work together to provide key services and power to the Kingdom City project in Saudi Arabia. The MoU was signed in the frame of the second session of the Saudi-French Forum that took place in Riyadh, in the presence of French Prime Minister Manuel Valls.
The project is a major urban development project in Obhur, north of Jeddah. The objective is to build a new, smart and sustainable district with features such as district cooling, green mobility, water optimization, etc. The MoU defines that the companies will work together to develop a roadmap for the provision of solutions in five specific areas: water and waste management, power generation and supply, city infrastructure & facilities management, green mobility and district cooling.
Gerard Mestrallet, CEO and Chairman of ENGIE, commented: “ENGIE is delighted to have signed the MoU for this exciting project in Saudi Arabia. We are a long-term investor in the Kingdom, mainly under the public-private partnership for power and water development. This MoU demonstrates ENGIE’s capacity and ambition to provide customized, cross-cutting and comprehensive solutions for smart and sustainable urban developments such as Kingdom City.”
Jean-Louis Chaussade, CEO of SUEZ, said: “This MoU signature strengthens SUEZ' position and sustains our close relations with Saudi Arabia. Since 1950, we have been active in the Kingdom, among others through a partnership with Jeddah Water Services and National Water Company for the provision of drinking water and wastewater services to the city of Jeddah over the last 7 years. This MoU is a great opportunity for SUEZ to support Jeddah’s re-positioning on the international scene of modern regional cities by providing smart environmental and mobility solutions that will make the Kingdom City Project a world-class example of sustainable development.”
The Kingdom City project will host both commercial and residential developments, including among others, homes, hotels and offices. The centrepiece of this project will be the Kingdom Tower, which is planned to be the tallest tower in the world.
ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation, security of supply and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 152,900 people worldwide and achieved revenues of €74.7 billion in 2014. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, DJSI World, DJSI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).
We are at the dawn of the resource revolution. In a world facing high demographic growth, runaway urbanisation and the shortage of natural resources, securing, optimising and renewing resources is essential to our future. SUEZ (Paris: SEV, Brussels: SEVB) supplies drinking water to 92 million people, delivers wastewater treatment services to 65 million, collects waste produced by almost 50 million, recovers 14 million tons of waste each year and produces 5,138 GWh of local and renewable energy. With 80,990 employees, SUEZ, which is present on all five continents, is a key player in the sustainable management of resources. SUEZ generated total revenues of €14.3 billion in 2014.
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