Riyadh, Saudi Arabia: The Minister of Environment, Water and Agriculture, Abdul-Rahman bin Abdul-Mohsen Al-Fadhli, announced today the establishment of the Water Transmission and Technologies Company (WTTCO). The arrival of WTTCO was enacted by the Council of Ministers and is one outcome of the Privatization Program in the Kingdom’s water sector. WTTCO’s launch marks a major step by The Supervisory Committee for the Privatization of the Environment, Water, and Agriculture Sector towards restructuring the Kingdom's water sector.

WTTCO will manage and maintain water transmission, distribution and storage systems that span over more than 8,000 Km and transmit more than 7 million m3 per day of desalinated water across the country. The company will work to achieve higher efficiency and impact for the sector, while driving innovation in water technology and research. Closely aligned to the Saudi 2030 vision, WTTCO's arrival is one of the most important transformations seen in the water sector to date.

The new company – owned by the government – represents a quantum leap in the integration of the water sector as WTTCO will operate commercially to maximize the use of assets and achieve greater spending efficiency, while also decreasing supply chain costs.

On this occasion, His Excellency the Minister of Environment, Water and Agriculture, Chairman of the Supervisory Committee for the Privatization of the Environment, Water and Agriculture Sector, and Chairman of the Board of Directors of Saline Water Conversion Corporation (SWCC), Eng. Abdul-Mohsen Al-Fadhli, expressed his thanks and gratitude for the interest in and continuous support of the water sector from Saudi Arabia’s wise leadership. Al-Fadhli also expressed his appreciation for the decision of the Council of Ministers to establish WTTCO to achieve the goals of the National Water Strategy and the Privatization Program, which will enhance water services to achieve future growth and sustainability.

Al-Fadhli considers the establishment of WTTCO to be a historic step in enhancing the efficiency and organization of the water sector while contributing to a prosperous future for the Kingdom's economy. The water sector will do so by attracting more than SAR 50 billion in investment in water transmission and strategic storage systems, through the private sector's participation in funding future projects.

Eng. Abdullah Bin Ibrahim Al-Abdlkareem, SWCC Governor and WTTCO’s Chairman of the Board, reiterated that the establishment of the company contributes to the development of the water sector supply chain. He also reaffirmed the importance of WTTCO’s role in managing, constructing, developing and maintaining water transmission, storage and dispatch systems, while adding more than 3,500 Km of new transmission lines. These lines will distribute more than 4 million m3 per day of desalinated water to communities and businesses.

WTTCO’s efforts will help to achieve the objectives of the Kingdom’s water supply and demand plan, while maintaining operational excellence and meeting the highest standards of health, safety and environmental protection. WTTCO’s arrival will also see the completion of projects to integrate water connections across multiple regions of the Kingdom.

His Excellency continued by stating that the company will work with its partners in the water sector to reach further milestones in the quality of water services provided — guaranteeing that reliability and sustainability are maintained for all stakeholders. WTTCO will ultimately help to enhance Saudi Arabia’s water security and contribute to social and economic growth, therefore creating new opportunities for sector progress alongside additional gains in efficiency and further cost reductions. This will be achieved through various avenues, including partnerships with the private sector and the self-funding of projects.

Al-Abdlkareem emphasized that WTTCO will contribute positively to the quality of life for all Saudis by developing public services and infrastructure while advancing water transmission pipelines to meet the needs of all regions of the Kingdom, and keep pace with population growth.

Al-Abdlkareem closed by stating that the company will work to develop and train local Saudi talent, who today make up more than 97 per cent of WTTCO’s workforce. Employees will be provided with the necessary expertise and skills to complement WTTCO’s work in water research and technologies, to maintain Saudi Arabia’s leading position in the global water sector.


Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2020

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.