ACWA Power to Develop $677 Mln Desalination Project in Saudi Arabia

Al-Fadley and Abunayyan during the signing. (Asharq Al-Awsat)
Al-Fadley and Abunayyan during the signing. (Asharq Al-Awsat)
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ACWA Power to Develop $677 Mln Desalination Project in Saudi Arabia

Al-Fadley and Abunayyan during the signing. (Asharq Al-Awsat)
Al-Fadley and Abunayyan during the signing. (Asharq Al-Awsat)

ACWA Power has signed water purchase agreements for the 600,000 cubic meter per day Rabigh 4 Independent Water Plant (IWP) in Saudi Arabia.

Valued at around SAR 2.54 billion ($677 million), the reverse osmosis plant will serve Makkah and Madinah regions, which typically see a spike in demand during Ramadan and the annual Hajj season.

The Saudi Water Partnership Company (SWPC) will be the sole buyer of services for the project, which is located on the Red Sea coast in Saudi Arabia.

The agreements were signed by Saudi Minister of Environment, Water and Agriculture Abdulrahman al-Fadley, and Chairman of ACWA Power Mohammad Abunayyan, in the presence of Marco Arcelli, Chief Executive Officer of ACWA Power, and Raad Al-Saady, Managing Director and Vice Chairman of ACWA Power.

In this regard, Al-Fadley said:“These agreements will achieve the goals for water production projects in partnership with the private sector that supplies industries, communities, and people across the Kingdom of Saudi Arabia.”

“We expect that Rabigh 4 will directly serve pilgrims from around the world in the holy cities of Makkah and Madinah and serve households in the wider region.

We hope that this project serves as a testament to this vital sector and shows how the private sector can improve the quality of services, realize investment efficiencies, and foster innovation—all of which are objectives of Vision 2030,” added the minister.

Eng. Khalid bin Zuwaid Al-Quraishi, Chief Executive Officer, SWPC, said: “Rabigh 4 has been designed to use less electricity, lower operating costs, and support local content across both supply chain and employment.” This plant will be operational in 2026, he noted.

ACWA Power currently operates Rabigh 3 IWP in the area with the same capacity as Rabigh 4.

“We are honored to partner with the SWPC and leverage our expertise as a market leader in water desalination," said Mohammad Abunayyan, Chairman of ACWA Power.

"Our commitment to developing efficient and reliable projects that meet the practical water needs of the community has played a significant role in our contribution towards Saudi Arabia's clean water strategy, including supplying nearly a third of the nation's water needs.”

With Rabigh 4 IWP, ACWA Power will double its desalination capacity in Rabigh Area. Financial close for the project is expected during the third quarter of 2023.



Russia Hikes Import Tariffs for Consumer Goods from 'Unfriendly Countries'

A Russian national tricolor flag flutters on a tourist boat as another boat passes by along the Moskva river in central Moscow on July 18, 2024. (Photo by Natalia KOLESNIKOVA / AFP)
A Russian national tricolor flag flutters on a tourist boat as another boat passes by along the Moskva river in central Moscow on July 18, 2024. (Photo by Natalia KOLESNIKOVA / AFP)
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Russia Hikes Import Tariffs for Consumer Goods from 'Unfriendly Countries'

A Russian national tricolor flag flutters on a tourist boat as another boat passes by along the Moskva river in central Moscow on July 18, 2024. (Photo by Natalia KOLESNIKOVA / AFP)
A Russian national tricolor flag flutters on a tourist boat as another boat passes by along the Moskva river in central Moscow on July 18, 2024. (Photo by Natalia KOLESNIKOVA / AFP)

Russia increased imports tariffs for consumer goods, including candies, biscuits and shampoo, produced in countries that support sanctions against Moscow, according to a government order published late on Friday.

Russian imports from nations that imposed sanctions against Moscow over its military conflict with Ukraine slumped in 2022.

Some Western producers stopped selling to Russia, but Moscow has found roundabout ways to keep goods coming, including a grey imports scheme, and plenty of foreign goods remain on store shelves.

According to the order, the tariffs for perfume, cosmetics and shampoo from Poland, for example, will amount to 35% of the customs value. Duties for wallpapers from Lithuania, Latvia and Estonia will rise to 50%.

The new tariffs will be in place until and including Dec. 31 2024 and take effect seven days after publication.