ACWA Power Consortium Signs Investment Deal Worth $650Saturday, 2 May, 2020 - 09:30The Saudi minister of environment, water and agriculture and ...
Published on by Water Network Research, Official research team of The Water Network
Saturday, 2 May, 2020 - 09:30
The Saudi minister of environment, water and agriculture and two officials from ACWA Power during the signing on Friday. Asharq Al-Awsat Arabic
Riyadh - Asharq Al-Awsat
A consortium led by ACWA Power including Gulf Investment Corporation (GIC) and Al Bawani Water & Power Company (Albawani) announced Friday the signing of a water purchase agreement worth $650 million.
The deal is with the Saudi Water Partnership Company (SWPC) for a greenfield sea water reverse osmosis desalination project in Jubail, KSA. The Jubail 3A Independent Water Plant (IWP) will have a capacity of 600,000 m3 of potable water/day, greatly contributing to Saudi efforts to ensure water security.
Abdulrahman al-Fadhli, minister of environment, water and agriculture and chairman of the board directors of SWPC, signed the agreement.
The consortium led by ACWA Power will design, construct, commission, operate and maintain the desalination plant as well as associated potable water storage and electrical special facilities.
Khaled al-Qureshi, CEO, Saudi Water Partnership Company, stated: “In alignment with our mission to ensure adequate water production capacity for the Kingdom of Saudi Arabia, we are keen to work closely with ACWA Power, a Saudi company with international expertise, as our trusted partner.”
https://aawsat.com/english/home/article/2263861/acwa-power-consortium-signs-investment-deal-worth-650