Aqua Power announced the signing of a group of financing agreements with a total value of $ 700 million, to finance the construction of the Rabigh 3 desalination plant in Saudi Arabia.

The deal will be funded through a fund in which Natixis, MUFG and SAMBA will participate, in addition to Riyad Bank, which will also provide a interim loan to manage the financial transaction, beginning of this month.

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The share of Aqua Power in the project is 70%, and the Saudi Brotherhood owns the remaining stake.

Aqua Power, in November 2018, signed a contract to build a $ 2.3 billion power plant in Egypt.