Ten leading utility developer consortiums led by top global players including FCC, Cobra and GS Inima (from Spain), Suez and Veolia (France) beside Emirati group Utico and Japan’s Marubeni have been prequalified by Saudi Water Partnership Company (SWPC) for the Yanbu-4 independent water project (IWP).
The US-Saudi Arabian Business Council (USSABC) revealed that the value of contract awards in Saudi Arabia grew to $13bn (SAR48.9bn) in Q1 2019, a staggering 113% increase from $6.1bn (SAR23bn) in the same period in 2018, Construction Week reports.
According to USSABC’s Contract Awards Index (CAI) report, the total value of contracts covers megaprojects in various sectors, with oil and gas; water; and transportation projects making up 67% of the total value, accounting for $8.7bn (SAR32.6bn).
ACCIONA, a leading company in the development of water infrastructure, together with Marubeni Corporation, Almar and Rawafid Alhadarah Holding Co., has achieved the financial close for the Shuqaiq 3 desalination plant for a total value of more than $600mn.
Saudi banking institutions included Samba and NBC, along with the participation of international players MUFG (Agent), Crédit Agricole, Norinchukin and SMBC, with the agreement reached just three months after the water purchase contract was signed.
ACWA Power Signs Strategic Agreements With Three Chinese Entities During the Second Belt and Road Forum – Saudi Arabia
ACWA Power, a leading developer, owner, and operator of power generation and water desalination plants has signed strategic agreements with three renowned Chinese entities on the sidelines of the second Belt and Road Forum for International Cooperation (BRF).
The agreements with PowerChina, China Gezhouba Group Company (CGGC) and Bank of China will lay the ground for collaboration in key investments and further involve Chinese expertise in manufacturing power generation and desalinated water production plants that ACWA Power develops and operates.
A consortium composed of Saudi Arabia-based utility developer ACWA Power, Kuwait’s Gulf Investment Corporation (GIC) and Alternative Energy Projects Company (AEPCo) signed a contract and agreements with the Oman Power and Water Procurement Company (OPWP) to develop a 500-megawatt solar PV power plant in Ibri, Oman.
Saudi Aramco is building facilities to tap shale gas in the kingdom’s oil-rich eastern region and is making “a lot of progress” toward this goal, CEO Amin Nasser told reporters in Dammam, Saudi Arabia. Plans include a plant to desalinate seawater that Aramco can then inject underground to frack for gas.
Water rationalisation has been a high priority for the Saudi Arabian Government in recent years as it has repeatedly tried to address the stark imbalance of the country’s water consumption rates compared to its actual availability of resources.
WEC said the project on the Red Sea coast will be powered by the area’s high-voltage network. The agency is set to conduct a “competitive process” to select a single developer or a consortium for the plant’s development, financing, procurement, implementation, operations, and maintenance.
Upon launch, the desalination plant will have a daily potable water capacity of 450,000m3, with the selected project developer to sell its capacity and output to WEC under a water purchase agreement under a concession of 25 years.
President and chief executive officer of Energy Recovery, Chris Gannon, did not reveal additional details of the Saudi clients, but said that the company’s backlog and pipeline at present are the “most significant” in its history, “with activity and awards spanning 2019 and 2020”.
ACWA Power, a developer, owner and operator of power generation and water desalination plants, has announced the completion of the acquisition of certain shares and debt instruments/loan notes owned by Marubeni Corporation in Rabigh Arabian Water & Electricity Company (RAWEC) and certain shares owned by Marubeni in RAWEC’s Operations & Maintenance Company, namely Rabigh Power Company (RPC).
RAWEC is the captive utilities (power, water and steam) provider to Rabigh Refining and Petrochemical Company (Petro Rabigh Corporation), a joint venture formed in 2005 between Sumitomo Chemical, Japan and Saudi Aramco, which owns, operates and manages the Rabigh petrochemical complex.