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FINANCIAL NEWS
Saudi’s SWCC to invest USD80b to increase water production
18 Sep 2014
(MENAFN) State-run Saudi Saline Water Conversion Corp (SWCC) announced it is planning to invest USD80 billion by 2025 to increase energy-intensive desalinated water production to 8.5 million cubic meters a day, Arabian Business reported.
SWCC currently produces 3.6 million cubic meters per day of desalinated water, but due to a significant increase in power and water demands the company plans to reach 5.2 million cubic meters per day in less than two years and to 8.5 million cubic meters per day by the end of 2015-2025 period.
The company, which is also Saudi Arabia’s second largest power producer, is also trying to double energy efficiency from its current level of about 26-27 percent to 54-55 percent as well as looking at renewables to add to its energy portfolio.
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