RIYADH: Saudi vitality agency ACWA Energy has signed a water buy settlement for the 600,000-cubic meter per day Rabigh 4 Impartial Water Plant to be positioned on Kingdom’s Purple Beach.
The Saudi Water Partnership Co, a authorities off-taker, would be the sole purchaser of providers for the challenge, the corporate mentioned in a press launch.
In a bourse submitting on Wednesday, ACWA Energy mentioned the 25-year WPA was signed between its partly owned challenge firm Rawabi Water Desalination Co. and SWPC for the event, building, operation and possession of the water desalination plant utilizing reverse osmosis expertise.
The settlement additionally entails creating related infrastructure and services of the plant together with potable water tanks with a capability of 1,200,000 cubic meters.
ACWA Energy within the assertion has put the contract worth at SR2.54 billion ($677 million) whereas including that the monetary shut for the challenge is predicted in the course of the third quarter of 2023.
ACWA Energy, a Public Funding Fund-backed agency, at the moment operates as many as 16 desalination vegetation throughout 4 international locations; 10 of that are located within the Kingdom.
Mohammad Abunayyan, chairman of ACWA Energy, mentioned: “Our dedication to creating environment friendly and dependable tasks that meet the sensible water wants of the group has performed a big position in our contribution in the direction of Saudi Arabia’s clear water technique, together with supplying practically a 3rd of the nation’s water wants.”
“As we transfer ahead, we stay devoted to advancing our assist with our upcoming facility, which is able to set a brand new normal by way of capability and sustainability,” the chairman careworn.
The challenge is designed in such a approach that permits it to make use of much less electrical energy, decrease working prices, and again home content material by way of provide chain and employment, in response to SWPC CEO Khalid bin Zuwaid Al-Quraishi.
The plant – which is about to develop into operational in 2026 – will show the affect of reverse osmosis expertise in motion, in response to Al-Quraishi.
The plant can be projected to spice up the capability within the Rabigh space by 100%.
“These agreements will obtain the targets for water manufacturing tasks in partnership with the personal sector that provides industries, communities, and other people throughout the Kingdom of Saudi Arabia,” mentioned the Minister of Setting, Water and Agriculture Abdulrahman bin Abdulmohsen Al-Fadhli, in a assertion.
“We anticipate that Rabigh 4 will immediately serve pilgrims from all over the world within the holy cities of Makkah and Madinah and serve households within the wider area,” Al-Fadhli added.
ACWA Energy mentioned its mission is to make sure the ingenuity and entrepreneurship of the personal sector and make out there electrical energy and desalinated water in a dependable and accountable method to assist the social improvement and financial development of countries.