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Saudi Arabia Completes First Phase of Privatizing Water Distribution

Water distribution is one of the targeted sectors in the privatization project that the Saudi government is working on (Asharq Al-Awsat)
Water distribution is one of the targeted sectors in the privatization project that the Saudi government is working on (Asharq Al-Awsat)
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Saudi Arabia Completes First Phase of Privatizing Water Distribution

Water distribution is one of the targeted sectors in the privatization project that the Saudi government is working on (Asharq Al-Awsat)
Water distribution is one of the targeted sectors in the privatization project that the Saudi government is working on (Asharq Al-Awsat)

Saudi Arabia’s National Water Co. (NWC) has signed two deals worth SR714 million ($190 million) with firms in the private sector to operate water and environmental treatment services in the western and northern regions.

This move means that the Kingdom has completed the first phase of privatizing water distribution in accordance with the ninth program of its national water strategy.

Moreover, NWC announced on Wednesday that it has signed two contracts worth more than SR 1.59 billion ($423 million) with private-sector consortiums under its Long-Term Operation and Maintenance Contracts (LTOM) program to rehabilitate, operate and maintain six wastewater treatment plants in Makkah and Jeddah.

The company announced via its Twitter account that it awarded an LTOM contract worth 392 million riyals to the Saudi consortium of Thabat and Miahona to rehabilitate, operate and maintain two sewage treatment plants in Makkah Al Mukarramah for a period of 10 years.

The second 10-year LTOM contract, worth more than 1.2 billion riyals, was awarded to consortium of France’s Veolia and Saudi companies Awael and Civil Works Company (CWC) for four wastewater treatment plants in Jeddah.

Saudi Minister of Environment, Water and Agriculture Abdulrahman Al-Fadhli sponsored the signing ceremony of the contracts between NWC interim CEO Nemer bin Mohammed Al-Shebel and representatives of the Saudi-French consortium of Al Awael Modern Contracting Co., Suez, the Saudi-Spanish consortium of International Water Distribution Company (Tawzea), Alhaj Abdullah Ali Reza Company (HACO), and Spain’s Aqualia.

The Saudi-French consortium of Al Awael Modern Contracting Co. and Suez was awarded the SR 365 million ($97 million) management, operation, and maintenance (MOM) contract for the western cluster while second contract worth SR 349 million ($93 million) for the northern cluster was awarded to the Saudi-Spanish consortium of International Water Distribution Company (Tawzea), Alhaj Abdullah Ali Reza Company (HACO), and Spain’s Aqualia for the northern cluster, NWC announced on its twitter account.

The privatization contracts will contribute to boosting project implementation and help attract investments, said Al-Shebel.

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15th Turkish-Arab Economic Cooperation Forum Kicks Off in Istanbul

Aboul Gheit addressing the opening session of the forum (Arab League - X)
Aboul Gheit addressing the opening session of the forum (Arab League - X)
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15th Turkish-Arab Economic Cooperation Forum Kicks Off in Istanbul

Aboul Gheit addressing the opening session of the forum (Arab League - X)
Aboul Gheit addressing the opening session of the forum (Arab League - X)

The Secretary-General of the Arab League, Ahmed Aboul Gheit, stressed the need for Arab-Turkish economic cooperation to extend beyond trade into broader areas that drive sustainable economic development for both sides.

Speaking at the 15th Turkish-Arab Economic Forum in Istanbul, Aboul Gheit emphasized the importance of collaboration in infrastructure, clean energy, green technology, and services such as tourism and fintech. He also highlighted the potential for joint efforts in scientific research and innovation aimed at mutual economic benefit.

Aboul Gheit pointed out the significant growth in trade between the Arab world and Türkiye in recent years. In 2022, Turkish exports to Arab countries amounted to $46 billion, while Arab exports to Türkiye reached $36 billion, representing a notable share of both sides’ overall trade. However, he urged expanding this relationship to include sectors like energy, technology, and logistics, leveraging the strategic geographical position of both regions as a crucial economic bridge connecting Asia, Europe, and Africa.

The forum, themed “Türkiye and the Arab World: A Global Corridor in Investment, Trade, and Technology,” was organized with the support of Türkiye’s Ministry of Treasury and Finance, the Ministry of Foreign Affairs, and other major regional institutions. It aimed to explore new opportunities in emerging sectors such as green energy, fintech, logistics, and capital markets, while addressing the regional and global economic challenges impacting both sides.

Turkish Minister of Treasury and Finance Mehmet Simsek acknowledged the uncertainty facing the global economy, which is limiting growth, especially in global trade. He also noted the rapid advancements in artificial intelligence, which are expected to reshape industries and societies. Simsek emphasized the need for Türkiye and the Arab world to capitalize on their potential for economic integration, particularly in this time of global economic shifts.

For his part, Egyptian Finance Minister Ahmed Kojak underlined Egypt’s efforts to ensure financial stability, production growth, and export competitiveness. He pointed to Egypt’s role in regional cooperation, highlighting initiatives such as the electricity grid connection with Saudi Arabia, which showcases the potential for regional collaboration in energy.

Tunisian Minister of Economy and Planning Samir Abdelhafidh focused on the advantages of developing economic corridors between Türkiye and the Arab world, particularly through free trade agreements, while Iraqi Finance Minister Taif Sami Mohammed stressed Iraq’s openness to cooperation with Türkiye, noting the country’s strategic position for global trade.

In turn, Kuwaiti Finance Minister Noura Suleiman Al-Fusam highlighted the need to remove trade barriers to increase interactions between Türkiye and the Arab world, with a focus on fostering investments.