Jordan Red Sea–Dead Sea Desalination & Water Security
300,000 m³/day desalination plant secures Jordan's most acute water-scarcity constraint under a 25-year concession.
Executive Summary
A build-operate-transfer desalination plant on the Gulf of Aqaba delivering 300,000 m³/day of potable water via a 450 km conveyance pipeline to Amman and southern governorates. The concession, backed by a sovereign guarantee and multilateral partial risk cover, is now fully funded and in construction.
Investment Thesis
- Jordan is among the most water-scarce countries globally, with per-capita renewable water availability under 100 m³/yr.
- 25-year take-or-pay water purchase agreement with the national water authority, sovereign-backed.
- Multilateral partial risk guarantee covers government payment obligations, achieving investment-grade project risk rating.
Use of Funds
Financial Snapshot
Transaction Structure
USD 230M senior debt (DFI + export credit agencies), USD 80M sponsor equity — fully subscribed.
Risk & Mitigation
- · Construction execution across dual sites
- · Energy cost pass-through timing
- · Regional geopolitical risk
- Fixed-price EPC with performance bonds from Tier-1 contractor consortium
- Solar co-generation caps energy cost exposure
- Multilateral political risk insurance in place
Timeline & Milestones
- 2024 Q3Concession agreement signed
- 2025 Q1Sovereign guarantee & PRG executed
- 2025 Q3Financial close
- 2026 Q1Construction 40% complete
- 2028 Q4Commercial operations date
Sponsor
Levant Water Infrastructure Company
Levant Water Infrastructure Company is a joint venture between a regional utility developer and a global water infrastructure fund, with 1.2M m³/day of desalination capacity delivered across the MENA region.
ESG & Impact
- Solves Jordan's most severe water-scarcity constraint
- Solar co-generation reduces grid energy draw by 45%
- Brine management plan certified to IFC PS6
Data Room
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