Riyadh – Mubasher: The supervisory committee of Saudi Arabia’s environment, water, and agriculture sector on Monday signed a contract with a three-firm consortium, comprising Metito, Mowah, and Orascom, to establish water treatment in Dammam over the coming period.
The project will produce 350,000 cubic metres of water per day, while it will provide services for about 900,000 clients in the Western Part of Dammam for 25 years, an official said.
The facility, whose investment cost and timeframe were not disclosed, will offer water which will be available for industrial and agricultural business.
This deal is considered the third privatisation agreement which is inked by the kingdom’s environment, water, and agriculture sector.
The privatisation is part of Saudi Vision 2030 that aims to diversify the GCC nation’s economy away from petrodollars.
