ACWA Power along with Haji Abdullah Alireza & Co (HAACO) and Al Moayyed Contracting Group (AMCG) has announced the signing of an Engineering, Procurement, and Construction (EPC) contract with a consortium of Power China, SEPCOIII, and WETICO for the 600,000 m3/day Rabigh 4 Independent Water Plant (IWP) project in Saudi Arabia.

The Rabigh 4 IWP project, with a total cost of SAR 2.54 billion (US$ 677 million), is located on the Red Sea coast in the Kingdom's Western Province. It is primarily intended to cater to the water needs of the Makkah and Madinah regions. The project involves the establishment of a reverse osmosis plant. The Saudi Water Partnership Company (SWPC) signed the Water Purchase Agreement (WPA) for the project after selecting a consortium comprising ACWA Power, Haji Abdullah Alireza & Co (HAACO), and Al Moayyed Contracting Group (AMCG) as the preferred bidder for its development. The financial close for the project is expected to take place in the Q3 of 2023.