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A special purpose entity owned by Saudi utility developer ACWA Power has signed a 3-billion-riyal ($800 million) water purchase agreement (WPA) with Saudi Water Partnership Co.
The project is part of the conversion of the existing Shuaibah 3 IWPP plant into seawater reverse osmosis plant (SWRO), ACWA Power said in Saudi Tadawul bourse filing.
The SPV - Shuaibah Three Water Desalination Co. - was formed by ACWA Power and Badeel Co. for the Shuaibah 3 IWP Project plant located in in Mekkah province in the kingdom.
The contract is for a period of 25 years and covers the development, construction, and operation of 600,000 m3/day SWRO.
Saudi Water Partnership Company is the principal off-taker for water and wastewater projects in Saudi Arabia.
(Reporting by Brinda Darasha; editing by Seban Scaria)
