ACWA Power achieves financial close for $821mn Shuaibah 3 IWP project ...United Arab Emirates

Saudi-based ACWA Power has announced the financial close for the Shuaibah 3 independent water project (IWP), with a total investment of US $821mn. The company said the project is a joint venture (JV) between itself (with a 68% equity stake) and Water and Electricity Holding Company (Badeel). The project involves the development, financing, design, engineering, procurement, manufacture, factory testing, transportation, construction, erection, installation, completion, testing, commissioning, insurance, ownership, operation and maintenance of desalination, the statement said. It added that the JV will complete the development, financing, design, engineering, construction, procurement, testing

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