ACWA Power, a developer, owner and operator of power generation and water desalination plants, has announced the completion of the acquisition of certain shares and debt instruments/loan notes owned by Marubeni Corporation in Rabigh Arabian Water & Electricity Company (RAWEC) and certain shares owned by Marubeni in RAWEC’s Operations & Maintenance Company, namely Rabigh Power Company (RPC).

RAWEC is the captive utilities (power, water and steam) provider to Rabigh Refining and Petrochemical Company (Petro Rabigh Corporation), a joint venture formed in 2005 between Sumitomo Chemical, Japan and Saudi Aramco, which owns, operates and manages the Rabigh petrochemical complex.

(LINK).