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|18 March, 2019

ACWA Power buys out all of Marubeni's shares in Rabigh Arabian Water

RAWEC is the utilities provider to Rabigh Refining and Petrochemical Company, ACWA said.

Image used for illustrative purpose. Refining and petrochemical facilities of Rabigh Refining & Petrochemical Co. are seen near Jeddah.

Image used for illustrative purpose. Refining and petrochemical facilities of Rabigh Refining & Petrochemical Co. are seen near Jeddah.

REUTERS/Ali Jarekji

DUBAI- ACWA Power increased its shareholding to 74 percent in Saudi Arabia's Rabigh Arabian Water & Electricity Co. (RAWEC) after buying all of Marubeni Corp.’s stake, the Saudi company said in a statement on Monday.

RAWEC is the utilities provider to Rabigh Refining and Petrochemical Company, ACWA said.

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(Reporting by Maher Chmaytelli, editing by Louise Heavens) ((maher.chmaytelli@thomsonreuters.com;))

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