ACWA to bid on $10bn of projects

Saudi-based power and water firm, ACWA Power International is planning to bid for $10bn in contracts this year in the Gulf region, Africa and Turkey as well as its home market, Bloomberg has reported. ACWA CEO Paddy Padmanathan said the firm plans to bid on $2.5bn worth of projects in Saudi Arabia, and will also take part in tenders in Oman, Abu Dhabi, Morocco, Turkey, and may later also bid on projects in Qatar, Jordan, South Africa and Botswana. 'We have picked these countries because they've all got wonderful opportunities for rapidly growing power demand,' he told the news service.