JEDDAH – ACWA Power International becomes the whole owner of the First National Operation and Maintenance Company (NOMAC) after it acquired Sogex Oman Co's 35 percent share in NOMAC, the company said in a statement Wednesday. Mohammad A. Abunayyan, Chairman of ACWA Power, said “this acquisition will streamline our business so that the operations of ACWA Power will take complete control of the O&M function to ensure optimization of plant operations thus providing a fully integrated holistic environment which encompasses project development and/or acquisition, management and operation and maintenance.” Moreover, “taking full ownership of NOMAC will also give us the ability to control and utilize the resources of the company in the most effective and efficient manner to ensure maximum added value for stakeholders.” Paddy Padmanathan, ACWA Power's President and CEO, said “we are pleased to take full ownership of this company and add it to our growing portfolio as a landmark event in the history of ACWA Power, a testimony that we do not need to rely on partnership expertise to fulfill our objective of being an integrated developer, owner & operator of power and desalinated water plants.” Further, he said “this acquisition is a natural progression in our growth strategy as it is part of our concentrated efforts aimed at enhancing the productivity of our well established assets in Saudi Arabia,” he added. NOMAC is the leading independent operations and maintenance services provider for the power and desalination industry in Saudi Arabia and elsewhere. NOMAC delivers operation and maintenance service solutions to public and private sector owners of power and desalination plants including steam turbine power plants, gas turbines simple and combined cycle power plants, sea water large capacity desalination plants including multi stage flash (MSF), multi effect distiller (MED) and reverse osmosis (RO) technologies, diesel engine power plants, seawater cooling systems, potable water transmission systems and solar photovoltaic plants. – SG
