Saudi Arabia to launch SAR 45 billion worth of water projects
29/10/24
Saudi Water Partnership Company (SWPC) has announced plans to initiate 18 new water projects valued at SAR 45 billion (USD 12 billion) throughout Saudi Arabia over the next three years. This initiative is part of the Kingdom’s broader commitment to enhancing water infrastructure and sustainability.
Within the next 12 months, SWPC expects to award contracts for eight of these projects, totalling SAR 30 billion (USD 8billion). Anticipated returns on these investments are projected to range from 7% to 10%, making them attractive opportunities for investors and contractors alike.
Over 100 companies participated in a recent workshop hosted by SWPC in collaboration with the Saudi Ministry of Environment, Water and Agriculture and the National Center for Privatisation. The workshop focused on the Contractors Incentive Initiative, designed to stimulate local contractors' involvement in future water sector projects. Key discussions included public-private partnerships, contractor qualification criteria and the pivotal role of the Saudi Contractors Authority.
This event served as a platform for fostering collaboration between public and private sectors, ultimately facilitating future projects in water development. It aims to enhance competitiveness among local contractors and promote investment opportunities within the water sector, supporting the Kingdom’s Vision 2030.
Given the positive feedback from participants, SWPC plans to host a second workshop soon, which will cover a variety of topics with an emphasis on specialized technical matters. This initiative underscores SWPC’s commitment to developing local contractor capabilities and enhancing their competitiveness in line with national objectives.
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