Energy

ACWA Power to announce financial closure for Jazan project this week

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Chairman of ACWA Power International Mohammad A. Abunayyan gestures as he speaks during the Saudi Green Initiative Forum to discuss efforts by the world's top oil exporter to tackle climate change in Riyadh, Saudi Arabia, October 23, 2021. REUTERS/Ahmed Yosri

RIYADH, Oct 23 (Reuters) - ACWA Power will on Wednesday announce financial closure for a $12 billion gasification and power joint venture in Saudi Arabia's Jazan region, Chairman Mohammad Abunayyan said on Saturday.

The Jazan IGCC Complex is a joint venture between Saudi Aramco, U.S.-based Air Products and ACWA Power. Oil giant Saudi Aramco will supply feedstock and the joint venture will produce power, hydrogen and other utilities for Aramco.

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Reporting Yousef Saba and Saeed Azhar in Riyadh Writing by Ghaida Ghantous Editing by Peter Graff

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