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FINANCIAL NEWS
Abu Dhabi awards $435m deal to ACC, Posco
22 Sep 2010
(MENAFN) A statement issued by the Arabian Construction Company (ACC) said that the company and Posco Engineering & Construction Company (Posco E&C) have won a mutual water project of $435.5 million from Abu Dhabi Water & Electricity Authority (Adwea), Trade Arabia reported.
The project, which involves the engineering, procurement and construction of the strategic water storage and recovery system to be constructed in Liwa, Abu Dhabi, is the first of its kind in the Middle East.
The strategic water storage and recovery contract project has been awarded to the JV by Adwea in unification with the Environmental Agency of Abu Dhabi.
The project – set to be constructed 250 km south west of Abu Dhabi – is based on an infiltration basin/recovery well system known as aquifer storage and recovery, which features water pipe lines, HV transmission lines, pump stations and a Scada system
The development consists of an underground aquifer storage facility with a capacity of 27 million tons of water being built 85 meters below ground in the Liwa desert for use in case there was a water emergency.
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