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RIYADH: ACWA Power Co., which is part-owned by Saudi Arabia’s Public Investment Fund, has announced the start of operations at the Umm Al-Quwain desalination plant in the UAE.
The $797 million plant, known as Umm Al-Quwain IWP, has the capacity to generate 682,000 cubic meters per day of desalinated potable water, according to a bourse filing.
The Saudi-listed utility provider holds a 40 percent stake in the project, from which it expects a positive financial impact starting from the ongoing quarter onward.