The Clap
The government’s decision to rationalize spending will have an impact on a number of projects, potentially pushing them back.
What
According to sources, the projects to be excluded from the decision include the renewable energy project from the Saudi company “ACWA Power” and the green hydrogen project with the Norwegian “Scatec”.
So What
Investors fully bear the financing & construction costs of these projects. In addition, investors have already signed contracts that were signed and approved by the Council of Ministers.
Now What
Sources added that there are some projects related to the production of renewable energy and water desalination which were at advanced stages of negotiations that may be put on hold.
