Saudi Arabia’s utilities giant ACWA Power is bidding for three large desalination projects to be offered by the Egyptian government shortly, a minister has revealed.

The three projects will be executed on PPP (public private partnership) basis and aim to expand sea desalination use in the most populous Arab country.

“ACWA Power is bidding for three large seawater desalination projects in Egypt…these projects will be carried out on PPP basis and will be offered by the government in the next few weeks,” Egypt’s finance minister Ahmed Kouchouk said on the ministry’s website.

The minister revealed the plans after meeting an ACWA Power delegation in Davos, where he is attending the world economic forum.

Kouchouk did not provide further details but said that Egypt intends to “benefit from the company's experience in desalination and wind power.”

He noted ACWA Power, which is listed on the Saudi stock exchange, already has strong presence in Egypt as it is involved in a number of renewable energy projects.

(Writing by N Saeed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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