ACWA Power announced on Thursday the start of operation of 600,000 cubic metres per day Rabigh 3 Independent Water Plant (IWP) project, located in Rabigh on the Saudi Red Sea coast.
 
The company said in a stock exchange statement that the financial impact of operating the project is expected on the first quarter 2022 financial results.
 
In November 2021, Zawya Projects had reported that Rabigh 3, which is the biggest reverse osmosis-based desalination plant in the world, had started trial operations ahead of schedule.
 
A consortium of ACWA Power and Saudi Brothers Commercial Company (SBCC) own 70 percent and 30 percent respectively of the IWP project's holding company Rabigh Three Company (RTC), according to past statements from ACWA Power.
 
(Writing by Senthil Palanisamy; Editing by Anoop Menon)
(anoop.menon@refinitiv.com)
 
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
 
 

© ZAWYA 2022