Logo of ACWA Power
International Company for Water and Power Projects (ACWA Power) commenced operations of water desalination at Rabigh Three Company IWP, located in Rabigh with a capacity of 600.000 cubic meter/day, the company said in a statement to Tadawul.
The relevant financial impact is expected to show in the first quarter of 2021, the statement added.
Rabigh 3 IWP is one of the world’s largest water desalination plants utilizing reverse osmosis. The project’s investment cost stood at SAR 2.6 billion.
In March 2019, ACWA Power signed financing agreements to establish the Rabigh 3 IWP Plant with Natixis, MUFG, SAMBA and Riyad Bank.
A new company, Rabigh Three Company (RTC), was incorporated, with ACWA Power holding 70% and Saudi Brothers Commercial Co. (SBCC) 30% to own the Rabigh 3 IWP Plant.
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