ACWA Power signs SAR 2.5B water purchase agreement with SWPC
The agreement includes the development, construction, operation, and ownership of a water desalination plant, along with related infrastructure and facilities, including water storage tanks with a capacity of 600,000 cubic meters.
In a statement to Tadawul, ACWA Power said the contract is valued at SAR 2.5 billion and will run for 25 years from the start of the plant's full commercial operation.
The company expects the financial impact to appear upon the commencement of full commercial operations in Q1 2030.
The plant will adopt reverse osmosis technology with a production capacity of up to 300,000 cubic meters per day. It will be located in the western region of Saudi Arabia, approximately 300 km south of Makkah, on the Red Sea coast.
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