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RIYADH: ACWA Power Co. has completed its Shuaibah 3 IWP Project with an investment cost of $821 million.
The project is a joint venture between ACWA Power Co. and Water and Electricity Holding Co., with ACWA Power holding a 68 percent equity stake, according to a bourse filing.
The project includes construction, erection, installation, completion, testing, commissioning, insurance, ownership, operation, and maintenance of Shuaibah 3 desalination.
The project will be developed, designed, engineered, constructed, procured, tested, commissioned, and operated under a 25-year offtake contract with Saudi Water Partnership Co., the filing said.