ACWA Power signs SAR 2.5 bln water purchase deal with SWPC

Logo of ACWA Power Co. 

ACWA Power Co. stated that its subsidiary Rawabi Water Desalination Co. signed a water purchase agreement with Saudi Water Partnership Co. (SWPC) for the development, construction, operation, and ownership of a water desalination plant.

In a Tadawul statement today, April 12, the company said the plant will operate with the reverse osmosis technology, at a capacity of up to 600,000 cubic meters (m3)/day.

The project also aims for the development, construction, operation, and ownership of associated infrastructure and facilities, including potable water tanks with a capacity of 1.2 million m³.

The 25-year project costs SAR 2.54 billion, the statement added.

The relevant financial impact is expected after the launch of commercial operations which are expected in 2026.

There are no related parties, the company said.

The plant will be located in the Western Province, 180 kilometers north of Jeddah, and south of Rabigh city, on the Red Sea coast.