Marafiq

What Marafiq does

Marafiq (legally, The Power and Water Utility Company for Jubail and Yanbu) is a Saudi Arabian integrated industrial utility established by Royal Decree M/29 on 18 October 2000. It produces and distributes potable water, process water, and seawater cooling; generates, transmits, and distributes electricity (4.8 GW of capacity); distributes natural gas in Yanbu; and treats industrial and municipal wastewater in Jeddah and Yanbu (387,000 m³/day treatment capacity). Its physical footprint covers five Saudi industrial cities — Jubail, Yanbu, Jazan, Ras Al Khair, and Jeddah — making it the sole integrated utility operator across these designated zones. The company is owned by four state-linked institutions: the Royal Commission for Jubail and Yanbu, SABIC, Saudi Aramco, and the Public Investment Fund, and completed its IPO on the Saudi Exchange in 2024 under the ticker 'Marafiq'.

Marafiq operates a platform-plus-subsidiary model. Core operations sit alongside dedicated vehicles: Jubail Water and Power Company (JWAP) and the Jubail SWRO Sadara Complex handle generation and desalination; MaSa Operations & Maintenance and Jeddah Althaniya Operations and Maintenance Company (JAOMC) provide O&M; Marafiq Cool runs district cooling in Jubail and Yanbu; Jeddah Althaniya Water Company (JAWC) handles Jeddah wastewater; Tawreed manages procurement; and Marafiq Insurance Limited provides captive insurance. Recent additions include a 2026 consortium with Veolia Middle East S.A.S and Lamar Arabia for Energy to develop an Industrial Wastewater Treatment Plant, and a renewable-energy / small-scale solar PV service line for industrial customers' self-consumption.

Marafiq earns revenue primarily through regulated, usage-based tariffs across power, water, gas, and wastewater — structured as recurring utility charges billed directly to industrial customers. The High Intensity Electricity Consumption Tariff and the Industrial Water Tariff (with the latter re-priced effective 7 December 2025) are the primary pricing levers. In 2023 the company deployed a Smart Operations Platform at the Yanbu reverse osmosis plant, smart electricity meters across Yanbu Industrial City, and SAP HANA/S4 for enterprise analytics, signaling a digital transformation program layered on top of physical infrastructure. It sells exclusively to enterprise industrial customers within Saudi Arabia, with no geographic or vertical diversification in the customer base.

Name

Marafiq

Legal name

The Power and Water Utility Company for Jubail and Yanbu (Marafiq)

Website

https://marafiq.com.sa

Company type

Public

Founded year

2000

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Marafiq is the sole integrated power, water, gas, and wastewater utility for Saudi Arabia's major industrial cities (Jubail, Yanbu, Jazan, Ras Al Khair, Jeddah), serving large industrial enterprise customers under regulated tariffs. Established in 2000 by Royal Decree and publicly listed on the Saudi Exchange in 2024.

Ownership category

akta.pro rank

Product category

Industrial Utilities

NAICS

Electric Power Generation, Transmission and Distribution (2211), Water Supply and Irrigation Systems (221310)

SIC

Water Supply (4941), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Seawater Reverse Osmosis (SWRO) Plants & Operations (EUANAFAA)

Keywords

• Industrial utility services
• Power generation services
• Water desalination services
• Wastewater treatment services
• Integrated utility operations

Headquarters

HQ city

Jubail

HQ country

Saudi Arabia

HQ region

Middle East

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain

Revenue model

1. Water Supply Services: Revenue generated from supplying potable water, processed water, and seawater cooling services to industrial customers in Jubail, Yanbu, Jazan, and Ras Al Khair industrial cities. Tariffs are regulated and include High Intensity Electricity Consumption Tariff and Industrial Water Tariff.
2. Power Generation and Distribution: Revenue from electricity generation (4.8 GW capacity), transmission, and distribution services to industrial customers. Subject to regulated tariff structures.
3. Gas Distribution: Revenue from natural gas distribution services in Yanbu Industrial City.
4. Wastewater Treatment: Revenue from wastewater collection and treatment services in Jeddah and Yanbu.
5. District Cooling: Revenue from district cooling services through Marafiq Cool joint venture serving Jubail and Yanbu.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Marafiq is an integrated utility company that produces and supplies power, water, natural gas, and wastewater services to industrial cities in Saudi Arabia, including Jubail, Yanbu, Ras Al Khair, Jazan, and Jeddah. The company operates 4.8 GW of power generation capacity and 1.3 million m³/day of water production capacity, delivering potable water, seawater cooling, process water, and district cooling (Marafiq Cool) to industrial customers and the Royal Commission.

Product overview

Marafiq is a Saudi Arabian integrated utility company providing water, power, gas, and wastewater services to industrial cities including Jubail, Yanbu, Jazan, and Jeddah. The company operates a platform-plus-subsidiary model with core utility services (water production and distribution, seawater cooling, power generation/transmission/distribution, gas distribution, and wastewater treatment) supplemented by multiple joint ventures and subsidiaries including MaSa (operations & maintenance), JWAP (water and power generation), the Jubail SWRO Sadara Complex (desalination), Marafiq Cool (district cooling), and insurance services. Marafiq also offers digital services including a smart operations platform for its Yanbu reverse osmosis plant and smart electricity metering in Yanbu Industrial City, along with tariff programs for industrial customers and renewable energy services. The company is jointly owned by the Royal Commission for Jubail and Yanbu, SABIC, Saudi Aramco, and the Public Investment Fund.

Differentiator

Problem solved

Functional benefit

Brands

• Marafiq Cool: Jubail and Yanbu District Cooling Company subsidiary providing district cooling services.
• MaSa

Products and services

• Water Services Production and supply of potable water, process water, and seawater cooling for industrial tenants at Jubail, Yanbu, Ras Al Khair, Jazan, and Jeddah, with a total production capacity of 1.3 million m³/day.
• Power Services Power generation, transmission, and distribution to industrial customers across Marafiq's licensed industrial cities, with a total generation capacity of 4.8 GW.
• Natural Gas Services Distribution of natural gas to industrial customers within the licensed industrial cities for process and operational use.
• Wastewater Services Collection and treatment of industrial wastewater for tenants across Marafiq's licensed industrial cities, supporting compliance with environmental discharge standards.
• Marafiq Cool (District Cooling) Centralized district cooling service supplying chilled water for industrial cooling loads within the licensed industrial cities.
• Smart Operations Platform Digital platform providing real-time monitoring and operational visibility across Marafiq's power, water, gas, and wastewater assets.
• Smart Electricity Meters Smart electricity meters deployed for industrial customers to enable advanced metering, consumption monitoring, and accurate billing.

Named customers5 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

13 partnerships are on record, tiered core and minor.

• Veolia Middle East S.A.ScoreStrategic or Co-development Partner · 23 February 2026Marafiq joined a consortium with Veolia Middle East S.A.S and Lamar Arabia for Energy to develop an Industrial Wastewater Treatment Plant. This partnership combines Marafiq's utility infrastructure expertise with Veolia's water treatment technology capabilities.
• Lamar Arabia for EnergycoreStrategic or Co-development Partner · 23 February 2026Marafiq joined a consortium with Veolia Middle East S.A.S and Lamar Arabia for Energy to develop an Industrial Wastewater Treatment Plant. The partnership focuses on industrial wastewater treatment solutions.
• Royal Commission for Jubail and Yanbu (RC)coreOthersOne of four major shareholders of Marafiq along with SABIC, Saudi Aramco, and PIF. The Royal Commission oversees the development of Jubail and Yanbu industrial cities.
• Saudi Basic Industries Corporation (SABIC)coreOthersOne of four major shareholders of Marafiq along with Royal Commission for Jubail and Yanbu, Saudi Aramco, and Public Investment Fund. Major petrochemical company operating in Saudi industrial cities.
• Saudi Arabian Oil Company (Saudi Aramco)coreOthersOne of four major shareholders of Marafiq along with Royal Commission for Jubail and Yanbu, SABIC, and Public Investment Fund. Saudi Arabia's national oil company and major energy producer.
• Jubail Water and Power Company (JWAP)coreOthersJoint venture company providing water and power services supporting Marafiq's operations in Jubail.
• MaSa Operations & MaintenancecoreOthersJoint venture focused on operations and maintenance services for Marafiq's utility infrastructure.
• TawreedminorOthersSubsidiary or project company within the Marafiq group.
• Jubail SWRO Sadara ComplexcoreOthersJoint venture reverse osmosis desalination complex at Sadara in Jubail providing seawater desalination capacity.
• Jeddah Althaniya Water Company (JAWC)coreOthersSubsidiary company providing wastewater treatment services in Jeddah.
• Jeddah Althaniya Operations and Maintenance Company (JAOMC)coreOthersJoint venture for operations and maintenance of Jeddah wastewater treatment facilities.
• Jubail and Yanbu District Cooling Company (Marafiq Cool)coreOthersJoint venture providing district cooling services in Jubail and Yanbu industrial cities.
• Marafiq Insurance Limited (MIL)minorOthersInsurance subsidiary company serving Marafiq's risk management and insurance needs.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• ACWA Power: Saudi-based integrated power and water developer and operator, publicly listed on the Saudi Exchange. Directly comparable as a Saudi utility providing power generation and desalination capacity, with overlapping industrial and municipal customers and similar regulated tariff exposure.

Broad incumbents

• Saudi Electricity Company (SEC): Saudi Arabia's national power utility, providing generation, transmission, and distribution across the Kingdom. Overlaps with Marafiq on power generation and distribution, but operates at a national scale serving residential, commercial, and industrial customers across all of Saudi Arabia.
• Saline Water Conversion Corporation (SWCC): Saudi government-owned desalination corporation operating the largest desalination capacity in the world. Comparable on seawater desalination (SWRO) operations, but operates at national scale across many cities rather than being concentrated in industrial cities.
• National Water Company (NWC): Saudi state-owned water utility responsible for water distribution and wastewater services in major Saudi cities. Overlaps with Marafiq on water and wastewater services but focuses on municipal customers rather than industrial city tenants.

Regional players

• Qatar Electricity and Water Company (QEWC): Qatar-based integrated power and water utility listed on the Qatar Stock Exchange. Comparable as a GCC integrated utility serving industrial and municipal customers, but operating within Qatar rather than Saudi Arabia.
• Emirates Water and Electricity Company (EWEC): UAE's primary procurer of power and water capacity, coordinating generation and desalination for Abu Dhabi. Comparable as a GCC integrated utility coordinator, though structurally different as a single buyer/off-taker model.

Others

• Veolia Middle East: Global water services and wastewater treatment leader, recently partnered with Marafiq on an Industrial Wastewater Treatment Plant consortium. Comparable as a water and wastewater operator and technology provider, and a direct partner for industrial wastewater expansion.
• Saudi Aramco: Saudi national oil company and one of Marafiq's four anchor shareholders. Operates industrial utilities for its own facilities in the same industrial cities Marafiq serves, and is both a customer and shareholder, creating strategic alignment but also dependency.
• ENGIE: Global multi-utility with significant Middle East presence in power generation, district cooling, and water services. Comparable on integrated utility services including district cooling and power/water, though operating globally with a broader portfolio.
• SABIC: Saudi petrochemical giant and another of Marafiq's four anchor shareholders. Not a direct utility peer but operates massive industrial facilities in Jubail and Yanbu that depend on Marafiq for utilities — relevant as anchor customer and shareholder.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/MarafiqOfficial
• YouTubeyoutube.com/channel/UCBP82AbY6hbyEYjMeNfiTYg
• Facebookfacebook.com/MarafiqKSA
• LinkedInlinkedin.com/company/marafiq
• Instagraminstagram.com/marafiq_official

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Marafiq