DEWA, Acwa sign water purchase agreements for Phase 2 Hassyan desalination project
Zawya · Staff Writer ·
The project company will be responsible for the development, financing, construction, and operation of the desalination plant,
Dubai Electricity and Water Authority (DEWA) has signed a Water Purchase Agreement and a Shareholder Agreement with Acwa, valued at AED 1.76 billion (approximately USD 478 million), for the second phase of the seawater reverse osmosis (SWRO) desalination project at the Hassyan complex in Dubai.
The two agreements were signed by Saeed Mohammed Al Tayer, MD & CEO of DEWA, and Mohammad Abunayyan, Founder and Chairman of Acwa. Officials from both entities were present.
The project company will be responsible for the development, financing, construction, and operation of the desalination plant, with DEWA holding a 60% stake and Acwa holding a 40% stake.