
Saudi Arabia Strengthens Water Sector Management with Transfer of Saline Water Conversion Corporation Assets
Riyadh, Saudi Arabia – June 21, 2022 – In a significant move aimed at enhancing the efficiency and management of the Kingdom’s vital water sector, the Ministry of Environment, Water and Agriculture (MEWA) has announced the successful transfer of assets belonging to the Saline Water Conversion Corporation (SWCC) to the newly established Water Solutions Company. This landmark decision, approved by the Council of Ministers, underscores the Kingdom’s commitment to optimizing its resources and fostering robust development across strategic sectors.
His Excellency the Minister of Environment, Water and Agriculture, who has expressed his profound gratitude to the wise leadership for their unwavering support and insightful guidance, highlighted the transformative potential of this restructuring. The transfer of SWCC’s assets to the wholly owned Water Solutions Company, an entity under the umbrella of the Public Investment Fund (PIF), is poised to inject new dynamism into the water industry.
This strategic repositioning is expected to unlock greater operational efficiencies, facilitate the adoption of advanced technologies, and ultimately contribute to the sustainable development of Saudi Arabia’s water resources. By consolidating expertise and resources under a dedicated entity, the Kingdom aims to ensure the reliable and efficient provision of desalinated water, a critical resource for its growing population and diverse economic activities.
The Public Investment Fund’s involvement signifies a commitment to leveraging its considerable financial and strategic capabilities to drive innovation and excellence within the water sector. The Water Solutions Company is envisioned to be a key player in realizing the ambitious goals of the Kingdom’s Vision 2030, particularly those related to environmental sustainability and the development of essential services.
This initiative is a testament to the forward-thinking approach of the Saudi government in proactively addressing national development priorities. The seamless transition of assets and operational responsibilities is anticipated to usher in an era of enhanced performance and greater investor confidence in the Kingdom’s water infrastructure. MEWA remains dedicated to overseeing and supporting this vital transition, ensuring that the benefits of this strategic decision are fully realized for the betterment of the nation.
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mewa.gov.sa published ‘وزير “البيئة” يشكر القيادة بمناسبة صدور قرار مجلس الوزراء بنقل أصول “التحلية” إلى شركة حلول المياه المملوكة بالكامل لـ”صندوق الاستثمارات العامة”‘ at 2022-06-21 00:00. Please write a detailed article about this news in a polite tone with relevant information. Please reply in English with the article only.