ENGIE and SUEZ sign Kingdom City MoU
French duo to provide key services and power for huge development in KSA
ENGIE and SUEZ have signed a Memorandum of Understanding (MoU) with the Jeddah Economic Company (JEC) to work together to provide key services and power to the Kingdom City project in Saudi Arabia.
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.
The project is a major urban development 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.
Under the MoU 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, said: “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.”