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FINANCIAL NEWS
Saudi Arabia approves $2.67b wastewater plans
12 Dec 2010
(MENAFN) Loay Al Mussalam, Chief Executive of Saudi Arabia’s state-owned National Water Company (NWC), announced that it has approved plans to construct strategic water storage facilities in the Kingdom’s capital city Riyadh and in the province of Jeddah over the next five years, valued at $2.67 billion, Arabian Business reported.
According to Al Mussalam, 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.
Additionally, NWC plans to invest $1.33 billion over the next twenty years to expand treated water sales. It has signed agreements and memoranda of understanding (MoU)s to supply 300,000 cubic meters a day of treated water to various public and private sector entities, he added.
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