Arab News, Sat, Mar 30, 2024 | Ramadan 20, 1445
ACWA Power signs $800m water purchase agreement with Senegal
Saudi Arabia:
Saudi energy giant ACWA Power has signed an SR3 billion ($800 million) agreement
with Senegal’s Ministry of Water to develop a desalination plant.
The company, partly owned by the Public Investment
Fund, announced the inking of a water purchase agreement for the construction of
the facility in Dakar, Senegal in a statement on the Saudi Stock Exchange,
Tadawul.
ACWA Power will be responsible for the
infrastructure, design and financing as well as construction, operation and
maintenance of the Grande Cote seawater desalination plant in the West African
country.
The project will have a production capacity of
400,000 cubic meters per day, the statement said.
Its first phase and financial impact are expected
to materialize by the first quarter of 2028, with a contract duration of 32
years.
This marks a continued partnership between the
company and Senegal, as it has previously signed a memorandum of understanding
with the Senegalese National Water Co. and the country’s National Electricity
Co. in September 2022.
The MoU entailed the development of a 300,000
cubic meters per day seawater reverse osmosis plant in Grande Cote, located
about 40 km north of the nation’s capital.
The development was the first desalination project
in the country to be facilitated through a public-private partnership and the
largest treatment initiative of its kind in Sub-Saharan Africa.