12/12/2017 07:17 AST

Acwa Power, a major developer and operator of power and desalinated water plants, said its consortium with French water and energy management company Veolia and Oman-based Dhofar International Development and Investment Holding Company (Didic) has been awarded the Salalah independent water project in Oman.

The project is being procured by Oman Power and Water Procurement Company (OPWP) under a build-own-operate framework on the back of a 20-year water purchase agreement.

Dhofar Desalination Company, the project company, will be owned by Acwa Power, Veolia Middle East and Dhofar International Development & Investment Holding (Didic).

The plant, to be located at Salalah in Dhofar region, will have a capacity to generate 25 million gallons per day of desalinated water using reverse osmosis technology, said a top official.

"Water is the most vital commodity for human life as well as a necessity for all enterprises. We are delighted to have been awarded this project and the opportunity to continue supporting Oman as a reliable supplier of desalinated water and power," remarked Paddy Padmanathan, the president and chief executive of Acwa Power.

The engineering, procurement, and construction of the plant will be handled by a consortium of Fisia Italimpianti and Abeinsa Infraestructuras Medioambiente.

The operations and maintenance of the plant will be undertaken by a consortium of Veolia Middle East, Nomac Oman and Didic.

Thamer Al Sharhan, the managing director at Acwa Power, said: "Oman is a strategic country for Acwa Power - our portfolio of six plants can generate over 4,300 MW of power and 42 million gallons per day of desalinated water."

Acwa Power is committed to ensuring the success of this project while creating real value for the local communities, he stated.

As such, the project will play a key role in meeting the increasing demand for water in Oman, which is expected to be on an average, about six per cent per annum over the next seven years, he added.

A major investor in a portfolio of power generation and desalinated water production plants, Acwa Power has presence in 10 countries including in the Middle East and North Africa, Southern Africa and South East Asia regions.

Its portfolio, with an investment value in excess of $30 billion, can generate 22+ GW of power and produce 2.7 million cu m/day of desalinated water to be mostly delivered on a bulk basis to state utilities and industrial majors on long term off-take contracts under Public-Private-Partnership, Concession and Utility Services Outsourcing models.

The group is owned by seven Saudi conglomerates including Sanabil Direct Investment Company (owned by the Public Investment Fund of Saudi Arabia), the Saudi Public Pensions Agency and the International Finance Corporation (a member of the World Bank Group).


Trade Arabia

Saudi Arabia's ACWA powers on with IPO plan

17/01/2018

Saudi Arabia-based ACWA Power, the power and desalination plant producer, could go public within the next two years, according to its CEO and President Paddy Padmanathan. ACWA, which has garnered a

Arab News

Saudi Arabia's ACWA Power to adopt Solarcoin

17/01/2018

The usage of blockchain technology will offer an untapped opportunity for the power generation sector, Saudi-based utility company ACWA Power said on Tuesday as it announced the adoption of Solarcoin

Gulf News

Saudi Arabia's ACWA Power invites banks to arrange IPO -sources

11/01/2018

Saudi Arabia's ACWA Power has invited banks to bid to arrange its initial public offer of shares, which is expected to value the company at up to $1 billion (Dh3.67 billion), sources told Reuters on

Gulf News

Ticker Price Volume
BWPC Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
OQEP 0.28 0.00 (0.00%)
OTEL 0.84 0.01 (1.20%)
OQGN 0.14 0.00 (0.00%)
ASCO 0.12 0.01 (9.09%)
ABRJ 0.25 0.01 (4.16%)
Adnoc deepens US energy ties with $60 billion deal

19/05/2025

The US has pledged up to $60 billion in investments for UAE energy projects, reinforcing a strategic partnership announced during the UAE-US business dialogue with President Donald Trump.

Khaleej Times

TAQA Group reports Q1 revenue of $ 3.87bn, up 3.8%

16/05/2025

Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, has delivered a 3.8% year-on-year revenue growth, reaching AE

Trade Arabia

Abraj Energy signs deal with BP for drilling rig in Block 61

16/05/2025

Abraj Energy Services has signed a contract with BP Oman to provide a drilling rig for operations in Block 61, with the rig expected to become operational in the fourth quarter of 2025.

The

Muscat Daily

Commercial Bank launches new CB Corporate Banking App

16/05/2025

Commercial Bank, a leader in innovative digital banking solutions, has unveiled its all-new Corporate Mobile Banking App, setting a new standard for business banking in the region.

This stat

Gulf Times

Emirates NBD pilots new AI compliance tech to reduce risks, improve payment speed

16/05/2025

Emirates NBD is rolling out a new AI-driven solution to strengthen its compliance checks on payments and trade transactions, as part of a wider effort to improve safety, speed, and transparency in fi

Gulfnews