The Rabigh IWSPP has been established to produce and supply utilities to the Rabigh Refining and Petrochemical Company (Petro Rabigh); jointly owned by Saudi Aramco and Sumitomo Chemical. RAWEC, registered and head-quartered in Rabigh, Kingdom of Saudi Arabia, is a special purpose company created to develop, own, and operate the Rabigh IWSPP. RAWEC is owned by lead partner ACWA Power (37%), Marubeni (37%), JGC (25%) and Petro Rabigh (1%). The basis for a successful business relationship between RAWEC and Petro Rabigh was formalized by the Water and Energy Conversion Agreement (WECA) in April 7, 2005.