Project Company (RAWEC)
Rabigh Arabian Water & Electricity Company (RAWEC) is the special purpose company created to develop, own and operate RAWEC facility.
The RAWEC has been established to produce and supply utilities to the Rabigh Refining and Petrochemical Company (Petro Rabigh). The basis for the relationship between RAWEC and Petro Rabigh is formalized by the Water and Energy Conversion Agreement (WESaveCA).
RAWEC is owned by ACWA Power, JGC and Petro Rabigh.
In June 1, 2008, RAWEC achieved commercial operation for its facilities and had been self-delivering the operation and maintenance activities required for the Plant.
In May 2014, RAWEC partnered with an O&M Contractor to enhance its operations and maintenance activities. Rabigh Power Company (RPC) was established through a shareholder agreement between NOMAC, Marubeni and JGC. RPC has been operating and maintaining the plant for RAWEC since then.
RAWEC entered into an amendment to its existing WECA with Petro Rabigh to build an extension to the existing IWSPP for supplying Petro Rabigh additional utilities to its Rabigh 2 expansion. The amended and restated WECA became effective on March 16, 2015 and will expire on the 25th anniversary of the commencement of the Project Commercial Operation Date (PCOD).
As a result of building the RAWEC IWSPP Phase 2 project, RAWEC will increase its installed capacity to 840 MW Power, 6,110 t/h Steam and 12,000 t/h Water to meet the increased demand of Petro Rabigh. In 2005, Saudi Aramco and Sumitomo Chemical started the Petro Rabigh Project with the aim of building integrated oil refining and petrochemical operations by way of upgrading Saudi Aramco’s oil refinery and constructing a new petrochemical complex, the Rabigh Complex. One of the strategic plans was to build a co-generation plant that produces and supplies the entire utilities requirement (power, water and steam) for the whole petrochemical complex.
The Rabigh IWSPP has been established to produce and supply utilities to the Rabigh Refining and Petrochemical Company (Petro Rabigh); jointly owned by Saudi Aramco and Sumitomo Chemical.
RAWEC, registered and head-quartered in Rabigh, Kingdom of Saudi Arabia, is a special purpose company created to develop, own, and operate the Rabigh IWSPP. RAWEC is owned by lead partner ACWA Power, JGC and Petro Rabigh. The basis for a successful business relationship between RAWEC and Petro Rabigh was formalized by the Water and Energy Conversion Agreement (WECA) in April 7, 2005.
In 2014, RAWEC took a conscious decision to contract its O&M activities to Rabigh Power Company (RPC), through an O&M Agreement. RPC, established in May 2014, is owned by ACWA Power, NOMAC and JGC.
The strong partnership between RAWEC and Petro Rabigh became more pronounced when both parties entered into an amendment to its existing WECA to build, own and operate Rabigh IWSPP 2 for supplying the complex additional utilities to its Rabigh 2 expansion. The amended and restated WECA became effective on March 16, 2015 and will expire on the 25th anniversary of the commencement of the Project Commercial Operation Date (PCOD).
During the initial phase, through IWSPP 1, the facility is able to generate 600 MW of Power, 4,230 t/h of Steam and 8,000 t/h Water. The integrated plant will increase its installed capacity to 840 MW Power, 6,110 t/h Steam and 12,000 t/h Water to meet the demand of the expanded Petro Rabigh Complex.
ACWA Power is a developer, investor, co-owner and operator of a portfolio of power generation and desalinated water production plants currently with presence in 11 countries including in the Middle East and North Africa, Southern Africa and South East Asia regions. Its portfolio, with an investment value in excess of USD 32 billion, can generate 23+ GW of power and produce 2.5 million m3/day of desalinated water to be delivered on a bulk basis to state utilities and industrial majors on long term off-take contracts under Public-Private-Partnership, Concession and Utility Services Outsourcing models.
JGC was established in 1928 as Japan’s first engineering contractor and has executed more than 20,000 projects across the world. Since more than a decade ago, JGC has steadily grown its engagement in the investment and operation business pertaining to power and water plant projects in areas such as the Middle East, Europe and Japan etc. utilizing JGC’s technical expertise. Their extensive engineering and project management capabilities have made JGC a unique investor and reliable partner in this field and JGC intends to continue to grow this presence further.
Petro Rabigh is an integrated oil-refinery and petrochemical producer utilizing 400,000 barrels per day of crude oil and 1.2 million tons per year of ethane as primary feedstock to produce a variety of refined petroleum products and petrochemical products. The refinery transferred from Saudi Aramco to Petro Rabigh has mainly been producing 8 million tons of heavy oil, 5.3 million tons of light oil, 3 million tons of naphtha and 2.6 million tons of kerosene annually. This refinery was upgraded to include a high olefin fluid catalytic cracking unit (HOFCC) for converting heavy and light oils to gasoline and other distillates, which added new annual capacities of 2.8 million tons of gasoline and 900,000 tons of propylene, a feedstock for petrochemical products.