Acwa Power is adding Dubai to its water book

Acwa has signed a 30-year water purchase agreement with Dubai Electricity and Water Authority (Dewa) for the Hassyan seawater desalination plant in Dubai, according to a Tadawul filing. The contract is valued at USD 478 mn (SAR 1.794 bn) and covers the plant’s development, financing, construction and operation. Located in the Hassyan Complex, the reverse-osmosis facility will produce around 272k cubic meters of desalinated water per day. Acwa will hold a 40% stake in the project, with financial impact expected from 2030 once the plant is completed.

REMEMBER- The renewable energy giant reached financial close on the first phase of the project back in 2024.

Almarai is getting into red meat

The Gulf’s largest dairy and food company has launched Haboor, its first beef brand, with an investment of about SAR 500 mn. The business will focus on locally made beef products, and Almarai expects it to start showing in results from 4Q 2026.

It’s the next protein on the platform: Almarai has already diversified into poultry and is working on entering the seafood market through a new local manufacturing facility. The company previously said it would invest around SAR 4 bn to expand its business.