Saudi “water transfer and technology” holds 16 billion dollars in investment opportunities
Tuesday – 24 Rabi Al-Awal 1442 AH – November 10, 2020 AD Issue No. [
Al-Fadhli and Abdul-Karim during the announcement of the establishment of the new company (Middle East)
Riyadh: «Middle East»
Saudi Arabia announced the completion of the establishment of the “Water Transport and Technology Company”, which comes in implementation of the Cabinet’s decision to establish it. The step is one of the results of the privatization program in the water sector, which comes within the steps of the Supervisory Committee for the privatization of the environment, water and agriculture sector towards restructuring the water sector.
The company will manage, operate and maintain water transmission, backup and storage systems across the Kingdom, whose lengths are currently more than 8,400 kilometers to transport more than 7 million cubic meters of desalinated water daily to feed the various regions, to achieve more efficiency and effectiveness, as well as innovating new solutions. In the fields of water technology and research, in one of the most important transformation steps that the water sector is witnessing to achieve the goals of “Vision 2030”.
According to the information released yesterday, the new state-owned company will make a quantum leap towards the integration of the water sector business, by working on a commercial basis, to maximize the use of assets, raise the efficiency of spending, and reduce costs within the supply chain in the sector.
Engineer Abdul Rahman Al-Fadhli, Saudi Minister of Environment, Water and Agriculture, Chairman of the Supervisory Committee for Privatization of the Environment, Water and Agriculture Sector, Chairman of the Board of Directors of the Saline Water Conversion Corporation, said that the establishment of the “Water Transport and Technology Company” is “an important step that contributes to raising the efficiency and organization of the Water also contributes to achieving a prosperous future for the country’s economy, by adding more than 60 billion riyals (16 billion dollars) of investment opportunities in transport systems and strategic storage of water by involving the private sector in financing future projects.
For his part, Engineer Abdullah Al-Abd Al-Karim, Chairman of the Board of Directors of the «Water Transport and Technology Company», confirmed that the establishment of the company «will contribute to the development of the supply chain in the water sector, to manage, establish and develop systems for transporting, supporting, storing and operating water with current lengths of more than 8,400 kilometers. , In addition to more than 3 thousand kilometers of new transportation systems and lines being implemented to serve the beneficiaries.
He added, “Thus, the total capacity available for transporting water is more than 17 million cubic meters of water per day, which contributes to achieving the objectives of the water supply and demand plan in Saudi Arabia, while maintaining operational excellence, raising efficiency, and achieving the highest health, safety and environmental standards.”
Al-Abdul Karim added that “the company, by working with its partners in the water sector, will work to achieve new achievements so that the sector will be able to ensure business reliability, growth and sustainability in providing services, increase the social and economic impact, as well as achieve many growth opportunities, increase efficiency and reduce costs, through the use of A number of tools; Including partnership with the private sector, and self-financing projects, in a way that contributes to keeping pace with the accelerating pace of development and meeting supply demands.
These were the details of the news Saudi “water transfer and technology” holds 16 billion dollars in investment... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.