Skip to content Skip to Search
Skip navigation

Sharjah confirms $693m water desalination project

By Pramod Kumar
A view of the Sharjah corniche. The new water desalination plant has an operational target of 2028 Wam
A view of the Sharjah corniche. The new water desalination plant has an operational target of 2028

Saudi renewable major Acwa Power will build a new water desalination plant in Sharjah.

The new independent water plant (IWP), which will be constructed at Hamriyah, Sharjah, will need an investment of SAR2.6 billion ($693 million). It will have a capacity of 410,000 cubic metres per day.

The project scope includes development, design, financing, engineering, procurement, construction, commissioning, completion, maintenance and insurance.

Person, Electronics, Mobile Phone

Newsletter
Get the Best of AGBI delivered straight to your inbox every week

Hamriyah Developer Holding Co, owned 45 percent by the Saudi company, has secured a 30-year off-take agreement with the Sharjah Electricity, Water and Gas Authority (SEWA).

Commercial operations are expected to commence by the second quarter of 2028.

Last week, Acwa Power secured SAR9.7bn from a consortium of eight regional and global banks to fund three mega solar projects in Saudi Arabia.

It has also appointed Citigroup Saudi Arabia, SNB Capital, and J.P. Morgan Saudi Arabia as financial advisors for the SAR7 billion rights issue, which was announced in June.

The renewables energy company expects to double its average annual equity commitment – the amount of money available for investment – from $1 billion-$1.3 billion to $2 billion-$2.5 billion.

Latest articles

Cargo is loaded onto an aeroplane. The Middle East-Europe route accounts for 5% of global traffic

Middle East-Europe is ‘fastest-growing route for air cargo’

The Middle East-Europe route for air cargo was the fastest growing in the world in October, according to International Air Transport Association figures.  Annual growth in cargo tonne-kilometres stood at 15.3 percent in October, IATA said. The global average is 9.8 percent and the Middle East average is 4.5 percent. The Middle East-Europe route has […]

Solar panels near Nanchang, China; Acwa Power wants to acquire clean power assets with a value of up to 20GW

Acwa Power plans to invest $50bn in China by 2030

Saudi energy company Acwa Power plans to invest up to $50 billion in renewable energy projects in China, a senior executive said on Tuesday.  Lyu Yunhe, Acwa Power’s head of China operations, said they aim to work with Chinese state-owned companies to acquire clean power assets with a value of up to 20GW and an additional 1 […]

Turkey inflation rate cut

Rate cut for Turkey in balance as inflation stays high

Despite higher than expected inflation in Turkey in November, the window may remain open for the central bank to cut its key lending rate before the end of this year.  Turkey’s annualised inflation rate fell back to 47.1 percent in November, data issued by the statistics agency Turkstat on December 3 showed, down from October’s […]

PMI november Saudi man in textile factory

Non-oil activity in Saudi Arabia at 16-month high

Activity in Saudi Arabia’s non-oil economy has hit a 16-month high, as the country’s diversification efforts continue to show results. The S&P Saudi Arabia Purchasing Managers’ Index – a composite measure of non-oil private sector performance – rose from 56.9 in October to 59 in November, the fourth successive month in which the headline index […]