The Business Times
The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

SUBSCRIBERS

Saudi ACWA Power sees US$4.5b in local project tenders

Published Sun, Feb 11, 2018 · 09:50 PM
Share this article.

Riyadh

SAUDI Arabian utility developer ACWA Power IPO expects to submit tenders for projects this year worth US$4.5 billion in Saudi Arabia and will also target projects in Morocco and the United Arab Emirates, its chief executive said.

ACWA Power CEO Paddy Padmanathan also confirmed the developer of electricity and water projects in the Middle East, Africa and South-east Asia has shortlisted banks to arrange an initial public offering (IPO). The company is looking to sell a 30 per cent stake to investors and list in Riyadh, said banking sources. An IPO is expected by the end of the year.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Energy & Commodities

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here