ACWA Power has signed a 30-year water purchase agreement with the Dubai Electricity and Water Authority (DEWA), the company told the Tadawul stock exchange on 28 October. It covers a new reverse osmosis plant at the Hassyan complex with 272,000 m³ per day on completion. The agreement is worth USD 478 million (SAR 1.79 billion). ACWA Power holds 40 % of the project company, which will develop, finance, build and operate the plant.
DEWA buys water, not a plant: construction, financing and operation sit with the project company. The reports do not say when the plant is due to deliver water.
Source: Middle East Construction News · GDN