RAZ extended
The deadline for signing the power and water purchase agreement (PWPA) for the RAZ project has been extended by a month to the end of January. The Malakoff/Sumitomo/Alijomaih Automotive team was made preferred bidder last October and since has been talking with client Saudi Electricity Company (SEC) on a range of issues, including its financing for the US$4bn plus scheme. It is believed to be seeking 80% of the debt from JBIC. At the same time, the Acwapower team, which came second, is still said to be pushing to be awarded the scheme.
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