By Staff writer
State-owned firm to provide investment opportunities in partnership with the private sector
Saudi Arabia's state-owned National Water Co (NWC) intends to provide investment
opportunities worth more than SR10bn ($2.67bn) over the next five years,
according to a report.
The move will be implemented in partnership with the private sector,
newswire Zawya Dow Jones said, citing a report on Saturday in the Al Hayat
NWC’s chief executive, Loay Al Mussalam told Al Hayat that the projects will
involve existing wastewater plants and the creation of new ones under the
build, own, operate, or BOO, system, in addition to distribution networks.
Al Mussalam said that his company plans to invest SAR5bn over the coming 20
years to expand treated water sales. It has has signed agreements and memoranda
of understanding to supply 300,000 cubic meters a day of treated water to many
public and private sector entities, he added.
The company’s board has approved plans to construct strategic water storage
facilities in the Kingdom’s capital city Riyadh and in the province of Jeddah.
Al Mussalam said NWC will invest over SAR5.5bn on these projects in a bid to
ensure a six-day water supply in emergency cases.