The International Water and Energy Works Company “ACWA Power” announced the completion of the financial closing and the completion of the acquisition of the first set of assets for the gasification and integrated combined cycle project in Jazan.
The company said in a statement on the website of the Saudi Stock Exchange “Tadawul” today, Wednesday, the completion of the financial closure of the main debt facilities amounting to $ 7.2 billion for the gasification and integrated combined cycle project in Jaza.
This joint venture brings together Aramco, ACWA Power, Air Products and Air Products Qora, of which ACWA Power owns 25% of its total shares.
The move follows the signing of the asset acquisition and project financing agreements, which were announced on September 27, 2021.
The project includes the acquisition of a first set of assets worth $12 billion by Aramco on the gasification unit and the integrated combined cycle, which was completed today.
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