A consortium led by ACWA Power including Gulf Investment Corporation (GIC) and Al Bawani Water & Power Company (Albawani) announced Thursday the signing of a water purchase agreement with the Saudi Water Partnership Company (SWPC) for a greenfield sea water reverse osmosis desalination project in Jubail, KSA.

The Jubail 3A Independent Water Plant (IWP) will have an investment value of $650 million and a capacity of 600,000 m3 of potable water/day, greatly contributing to Saudi efforts to ensure water security.

The 25-year agreement was signed with Abdulrahman Abdulmohsen A. Al Fadley, minister of environment, water and agriculture and chairman of the board directors of SWPC. Under the terms of the partnership, the consortium led by ACWA Power will design, construct, commission, operate and maintain the desalination plant as well as associated potable water storage and electrical special facilities.