PIF-owned ACWA power secures $800m water project

RIYADH: The Public Investment Fund-owned ACWA Power Co. has secured a SR3 billion ($800 million) deal to develop and construct a 600,000 cubic meter per day plant in Shuaibah governorate. 

The project is part of the conversion of the existing Shuaibah 3 IWPP plant into a seawater reverse osmosis plant, the utility firm said in a bourse filing.

The 25-year agreement was signed between a special purpose vehicle of ACWA Power and Badeel Co. and Saudi Water Partnership Co.