Saudi Arabia sets up water company in major move towards privatization
Privatization in water sector to generate massive flow of public-private funds
Dubai: The privatisation programme in Saudi Arabia's utility sector has taken a significant step, with the launch of the Water Transmission and Technologies Co..
This company will manage and maintain water transmission, distribution and storage systems that span over more than 8,400 kilometres and transmit more than 7 million cubic metres a day of desalinated water in the Kingdom. The new company – fully owned by the government – will help "maximize the use of assets and achieve greater spending efficiency, while also decreasing supply chain costs".
The sector is expected to attract more than 60 billion riyals in investments in water transmission and strategic storage systems, much of which will be done through private sector participation.
It was the Supervisory Committee for the Privatization of the Environment, Water, and Agriculture Sector that set up the new entity.