Saudi ACWA secures $2 billion Rabigh power financing

ABU DHABI - Saudi Arabia’s ACWA Power International has secured $2.0 billion financing for its Rabigh power plant projects, its chief executive told Reuters on Monday.

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By (Reuters)

Published: Mon 30 Mar 2009, 3:33 PM

Last updated: Sun 5 Apr 2015, 9:44 PM

“We are working to a financial close before the end of May this year,” Paddy Padmanathan said.

Acwa has awarded a $1.65 billion engineering, procurement and construction contract for the Rabigh plant to a Chinese consortium of Dongfang Electric and Sepco-III, Padmanathan said.

Acwa is aiming to expand overseas this year and is eyeing projects in Abu Dhabi, Oman, Bahrain and Africa, he added.

(Reuters)

Published: Mon 30 Mar 2009, 3:33 PM

Last updated: Sun 5 Apr 2015, 9:44 PM

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