Riyadh – Mubasher: ACWA Power signed a memorandum of understanding (MoU) with Saudi Basic Industries Corporation (SABIC) to cooperate in enhancing the Saudi local content in the kingdom’s economy.

The agreement was signed by the Fuad Mosa, Vice President of Local Content and Business Development at SABIC, and Thamer Al Sharhan, Managing Director at ACWA Power.

Commenting on the new agreement, Al Sharan said that "Partnering with the like-minded entity, we hope to create synergies in our local content endeavours and are confident this partnership shall prove to be a giant step in the right direction."

"Through our Sakaka Solar PV project, already we are seeing the benefits of supporting local content for the wider industry through numerous success stories. In addition to developing local businesses expertise in the renewable sphere, our efforts have also helped inject additional investment in the Saudi economy." Al Sharhan added.