Jazan JV formed, set to buy power assets

摘要

Air Products, Saudi Aramco and ACWA Power have signed a deal to form a gasification/ power joint venture (JV) located at Jazan Economic City (JEC) in Saudi Arabia. The JV will purchase the gasification assets, power block and the associated utilities from Saudi Aramco for more than $8bn. These assets are currently under construction and will be transferred to the JV upon successful start-up, currently scheduled in 2019.