ACWA Power to announce financial closure for Jazan project this week | Reuters

ACWA Power to announce financial closure for Jazan project this week | Reuters

ACWA Power will on Wednesday announce financial closure for a $12 billion gasification and power joint venture in Saudi Arabia's Jazan region, Chairman Mohammad Abunayyan said on Saturday.

The Jazan IGCC Complex is a joint venture between Saudi Aramco, U.S.-based Air Products and ACWA Power. Oil giant Saudi Aramco will supply feedstock and the joint venture will produce power, hydrogen and other utilities for Aramco.