Agreement signing ceremony
ACWA Power Co., along with Haji Abdullah Alireza & Co (HAACO) and Al Moayyed Contracting Group (AMCG), awarded an engineering, procurement, and construction (EPC) contract with a consortium of Power China, SEPCOIII, and WETICO for Rabigh 4 Independent Water Plant (IWP) project.
In a statement, the company said the agreement was signed at a total value of SAR 2.54 billion. The project will have a daily production capacity of 600,000 m3/day. The project will serve Makkah and Madinah regions.
Financial close for the project is expected during the third quarter of 2023.
Mohammad Abunayyan, Chairman of ACWA Power, said the project will supply desalinated water to Makkah and Madinah residents and visitors, especially during Ramadan and a record-breaking Hajj season.
"We are proud to be the world's largest private company in desalinated water development and production, with the lowest levelised water cost, the largest plant, and the most innovative solutions," Abunayyan added.
In April, ACWA Power signed a water purchase agreement worth SAR 2.54 billion with Saudi Water Partnership Co. (SWPC) for the development, construction, operation, and ownership of a water desalination plant, as reported earlier by Argaam.
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