CEEC Signs Strategic Cooperation Agreement with International Company for Water and Power Projects of Saudi Arabia
2018/06/11
Paddy, President and CEO of ACWA Power attended the meeting and made a speech. Xue Danfeng, Director of CEEC International Business Department, and Chen Xiaohua, Deputy General Manager of CGGC, President of CGGC International, and President of CGGC Overseas Investment, also attended the signing ceremony.
Scene of Agreement Signing
According to the agreement signed, both parties will give full play to their respective expertise and establish extensive and in-depth cooperation on investment and development, consultation and design, construction and operation in such fields as global power and seawater desalination, so as to achieve win-win cooperation and common development.
Wang Jianping Meets with Mohammad Abunayyan
Before the signing ceremony, both parties had frank exchanges on strengthening communication, deepening mutual trust and promoting win-win cooperation. Wang Jianping noted that CEEC is one of the largest global power industry solution providers in China, and even the world, which ranked the 11th and 4th among ENR250 global contractors and ENR150 global engineering companies in 2017, with its businesses covering more than 100 countries across the globe. ACWA Power is an important partner of CEEC. CEEC is willing to provide a one-stop integrated solution for ACWA Power in investment, development, planning and consulting design, construction and operation, and join hands with ACWA Power for common development.
Mohammad Abunayyan was highly appreciative of the comprehensive strength of CEEC. He hoped to further deepen the bilateral practical cooperation in thermal power, photovoltaic power generation, seawater desalination and other areas, thus achieving powerful combination, mutual benefit and win-win results. In his speech, Paddy noted that ACWA Power has always attached great importance to cooperation with CEEC, and hopes to establish a long-term and stable cooperative relationship with CEEC with the signing of the agreement as a platform.
It is understood that ACWA Power is an investment, development, operation company in private electric power and sea water desalination projects invested by the Government of Saudi Arabia, with its businesses covering the development, construction and operation of gas, fuel, coal and wind power stations and seawater desalination projects. At present, its investment is mainly for 10 countries such as Saudi Arabia, Egypt, South Africa and Vietnam to construct and operate 40 projects with a total installed capacity of 22 million kilowatts, a daily desalination capacity of 2.7 million cubic meters, and management assets of over 33 billion US dollars. It is now the world-leading and Middle East’s largest IPP/IWPP project investment and development agency.
Among the attendees were Xu Haifeng, Director of the Chinese Consulate General in Dubai, heads and principals of Dubai braches of relevant financial and insurance institutions such as EIBC, SINOSURE, ICBC, CCB, ABC, BOC, relevant principals of ACWA Power and CGGC International. People’s Daily, Xinhua and China-Arab Satellite TV also reported on the signing ceremony.