• Consortium, led by EDF Group and Masdar, alongside their partners Korea East-West Power Co. (EWP) and SUEZ, secured finance from local and global financial institutions
• Overall project build cost is approximately 1.5 billion USD
• New multi-utility infrastructure facility will service AMAALA, saving 350,000 tons of CO₂ emissions annually
• Developed by Red Sea Global, regenerative destination AMAALA is expected to start welcoming guests in 2025

Riyadh – October 31, 2024 – The consortium led by EDF Group and Masdar, alongside their partners Korea East-West Power Co. (EWP) and SUEZ, announced today that it has reached the financial close for its multi-utilities infrastructure facility at AMAALA. The overall project build cost is approximately 1.5 billion USD. Developed by Red Sea Global, AMAALA is a new destination with wellness at its core, nestled along the Red Sea coast of the Kingdom of Saudi Arabia and expected to start welcoming guests in 2025.