Herbert Smith Freehills Kramer advised lenders to the Jubail Buraydah water transmission project
The Global Law firm, Herbert Smith Freehills Kramer has advised the lenders to the Jubail Buraydah water transmission project in Saudi Arabia.
The project is the Kingdom’s second water transmission project and will significantly contribute to the National Water Strategy and Saudi Vision 2030. Once completed, the project will have a capacity of 650,000 cubic meters per day, water storage capacity of 1,634,500 cubic meters, and a pipeline length of 587 kilometres. It will connect the Eastern Province of the Kingdom with the Qassim region and is expected to serve more than two million beneficiaries with potable water.
The project has a total investment of approximately USD 2.26 billion, with debt financing of around USD 1.7 billion. The financing was provided by a syndicate comprising Abu Dhabi Commercial Bank, Arab Petroleum Investments Corporation, The Saudi Investment Bank, First Abu Dhabi Bank, Saudi Awwal Bank, Bank Al Jazira, and Al Rajhi Banking & Investment Corporation.
Financial close was achieved on 30 October 2025.
Commenting on the transaction, Phil Hanson (Partner), said,
“We are thrilled to have advised the lenders of this project, which plays an essential role in Saudi Arabia’s commitment to improving water security. Having also advised on the Rayis-Rabigh pipeline, Herbert Smith Freehills Kramer is one of the leading firms on water transmission projects in the Middle East.”
The Herbert Smith Freehills Kramer team was led by Phil Hanson (Partner), and included Charles Oliver (Senior Associate), Maria Zerkalova (Senior Associate), Alagammai Murugappan (Associate), and Christian Edwards (Trainee).
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