Acwa, Toyobo and Itochu to invest in manufacturing parts for plants
The local Acwa Holding and Japanese firms Toyobo Company and Itochu Corporation have formed a venture that will invest SR1.32bn ($350m) in manufacturing parts for desalination plants in Saudi Arabia.
The new company will build a manufacturing facility at Rabigh Technical Park, 150 kilometres north of Jeddah.
The plant is scheduled to open in March 2011 and will make membrane components for desalination plants.
Itochu has been involved in building desalination plants in Saudi Arabia since the 1970s, and Toyobo says it has an 80 per cent share of the current market for membrane technology in the kingdom.
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