Saudi Arabia has canceled the planned privatization of the Ras Al Khair (RAK) desalination and power plant, which was slated to raise around $2bn for the government. The plant, located on Saudi Arabia’s east coast has capacity to produce 1.05mn m³/d of desalinated water and to generate 2.5GW of electricity.
The RAK plant had been selected as the first Saudi Water Conversion Company (SWCC) facility to be privatized as part of the kingdom’s multi-billion dollar privatization drive. A total of seven pre-qualified companies and consortiums were invited to submit proposals to acquire a 60% stake in the facility in January (see table) with the value of the plant estimated at $3-3.5bn. (CONTINUED - 872 WORDS)
