ACWA Power will develop a 410,000 cubic metre per day independent water plant (IWP) at Hamriyah, Sharjah, at the cost of USD 693 mln.
The contract includes development, design, financing, engineering, procurement, construction, commissioning, completion, testing, ownership, operation, maintenance, and insurance of the IWP, the company said in a statement to the Saudi stock exchange.
Additionally, Hamriyah Developer Holding Company, which is 45pct owned by ACWA Power, signed a 30-year water purchase agreement with the state-run Sharjah Electricity, Water and Gas Authority (SEWA).
