RIYADH: Saudi Arabia’s Cabinet has deactivated the decision to privatize Saline Water Conversion Corp. and transfer its direct and indirect assets to Water Solutions Co., which is fully owned by the Public Investment Fund.
Based in Riyadh, the SWCC is responsible for desalination of seawater and supplying various regions in the Kingdom with desalinated water.
In a tweet following the announcement, Saudi Minister of Environment, Water and Agriculture Abdulrahman Al-Fadhli said that the decision will enhance the level of services, and add to sustainability as well as enable investments in the water sector.
He also described the decision as a turning point for the sector.
In an earlier interview with Arab News, SWCC Governor revealed that the firm will open six desalination plants by 2024 in a phased manner, beginning with the launch of two plants by late 2022.
Abdullah Al Abdulkarim added that these plants would be established across various cities of the Kingdom, including Al-Shuqaiq, Al-Shoaiba, Jubail, and Alkhobar
Earlier this year, Al Abdulkarim revealed the firm is close to reducing its carbon emissions by 60 percent.
Saline Water Conversion Corp is the largest desalination company in the world.