• The total project cost of the SR 2.54 billion (US$677 million) reverse osmosis plant is being developed by a consortium of ACWA Power, Haji Abdullah Alireza & Co (HAACO), and Al Moayyed Contracting Group (AMCG).
  • The project doubles ACWA Power's desalination capacity in the Rabigh area and confirms ACWA Power as the largest private desalination company in the world, with operations in four countries.

Riyadh, Saudi Arabia: 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.

Speaking at the signing ceremony in Riyadh, Mr. Mohammad Abunayyan, Chairman of the board of directors of ACWA Power, said: "We are proud to be the world's largest private company in desalinated water development and production, with the lowest levelised water cost, the largest plant, and the most innovative solutions."

"We are pleased with the continuous progress on the project, which further expands our presence in the key Rabigh region, which supplies water to the two Holy Cities. In the last month, during a record-breaking Hajj season, we have reliably supplied from our plants over two-thirds of the water demand in the holy sites, and I am thankful to all our colleagues who have spent time away from their families so that 2.5 million worshippers could safely perform their pilgrimage. Our presence in water desalination has already led key suppliers to localise their production in Saudi Arabia, and this project will create new employment opportunities during construction, as well as in operation and maintenance, where they will be largely staffed by young local talents from the local Electricity and Water Academy that we have developed over the last decade," he added.

Representing SEPCOIII at the signing, Chairman, ZHAO Qiming said: "The announcement marks yet another milestone in our ongoing partnership with ACWA Power and underpins our joint commitment to advancing sustainable water solutions in the Kingdom."

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.

About ACWA Power

ACWA Power (TADAWUL:2082), a Saudi listed company, is the world’s largest private company in water desalination with lowest tariff, leader in innovation and the first mover into green hydrogen. Registered and established in 2004 in Riyadh, Saudi Arabia, ACWA Power employs over 4,000 people and is currently present in 12 countries in the Middle East, Africa, Central Asia and Southeast Asia. ACWA Power’s portfolio comprises 77 projects in operation, advanced development, or construction with an investment value of SAR 293 billion (USD 78.2 billion), and the capacity to generate 50.4 GW of power and manage 6.8 million m3/day of desalinated water per day, delivered on a bulk basis to address the needs of state utilities and industries on long term, off-taker contracts under utility services outsourcing and Public-Private-Partnership models.

Media contacts:
ACWA Power
Yahya Hamidaddin
Executive Director – PR, Media & Content
YHamidaddin@acwapower.com