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ACWA Power has announced the establishment of ACWA Industrial Investment Company (AIICO), a business unit dedicated to enable local content development and industrialization in the Kingdom. The announcement was made during ACWA Power’s participation at the three-day Middle East Solar Trade Mission (MESIA) as a diamond sponsor in Riyadh.
Paddy Padmanathan, president and CEO of ACWA Power, said: “At the heart of ACWA Power’s business is our absolute commitment to helping the countries we serve and the communities we operate in to thrive and progress through providing vital resources — electricity and desalinated water, reliably at the lowest possible cost. The health, wealth and happiness of the countries and societies we serve is extremely critical to our profitability, for as long as these economies grow, the countries prosper, and we will have the chance to get the return on our investments over the decades.”
Thamer Al-Sharhan, managing director, ACWA Power, said: “We are tremendously committed to supporting and elevating local content in the Kingdom, and are the only operator to have hired Saudi operations managers across the board. Our latest project, Sakaka is a testament to our commitment with 100 percent of our employees being Saudis.”
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