ACWA Power, a leading Saudi developer, investor, and operator of power generation, water desalination, and green hydrogen plants worldwide, along with Haji Abdullah Alireza & Co (HAACO) and Al Moayyed Contracting Group (AMCG), today announced the signing of an engineering, procurement, and construction (EPC) contract with a consortium of Power China, SEPCOIII, and WETICO for the 600,000 m3/day Rabigh 4 Independent Water Plant (IWP) project.
Located in the Kingdom’s Western Province on the Red Sea coast, the total Rabigh 4 IWP project cost is valued at SR 2.54 billion (US$ 677 million) and will mainly serve the Makkah and Madinah regions. Financial close for the project is expected during the third quarter of 2023.
ACWA Power currently operates the Rabigh 3 IWP in the same area, the first desalination plant of its size in the private sector. With the addition of the Rabigh 4 IWP, ACWA Power will double its desalination capacity in the area to 1.2 million m3/day and to 6.8 million m3/day across its portfolio, making it the largest private producer of desalinated water globally.
The Water Purchase Agreement (WPA) of the project was signed earlier this year by the Saudi Water Partnership Company (SWPC) after a consortium of ACWA Power, HAACO, and AMCG emerged as the preferred bidder.
ACWA Power now operates 16 desalination plants in four countries, ten of which are in Saudi Arabia. The company fulfils 30% of the Kingdom’s water demand. In 2022 alone, the company added 2.4 million m3/day of water desalination capacity via four desalination plants in Saudi Arabia, Bahrain, and the UAE—the highest in its history.
