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  • Ahmed Saleh

Saudi EXIM Bank and ACWA Power sign $75 million financing for Hassyan Desalination Project in Dubai

Riyadh, February 29, 2024, The Saudi Export-Import Bank (Saudi EXIM Bank) has signed a $75 million financing agreement with ACWA Power for the construction and operation of the Hassyan Water Desalination Project in Dubai, UAE. The project will have a production capacity of 818,280 cubic meters per day. Through this agreement, Saudi EXIM Bank aims to support local developers in implementing and operating major international projects, enhancing Saudi content in global ventures. The move is expected to boost non-oil Saudi exports and competitiveness while contributing to sustainable projects. ACWA Power had previously been declared the preferred bidder for the Hassyan Water Desalination Plant project. The financing agreement aligns with Saudi Vision 2030 objectives.

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