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Saudi Arabia has suspended the process of privatizing the Ras Al Khair desalination and power plant, one of many state-owned assets the government aims to sell to ease capital expenditure pressures and diversify revenues away from oil
.
"This decision was made to leverage the knowledge and capabilities accumulated by our many years of experience in desalination, new technologies, research and development (research and development) and supply chains," said
the regulator for privatization of the Environment, Water and Agriculture Sector Committee.
"A new engagement strategy and plan
for the Saline Conversion Company (SWCC) assets, such as the Ras Al Khair plant, will be announced shortly," the company said in a statement on the website of the Saudi National Privatization Center on Monday.
”
Sources previously told Reuters that SWCC had hired consultants to help it sell its $7.
2 billion Ras Al Khair desalination plant
.
In January, it said it had invited seven companies and consortiums to bid for the plant, and the winning bidder is expected to own 60 percent of the project and be responsible for its management, operation and maintenance
.
Desalination is expensive and energy-intensive, but relies on
it in hot, water-scarce climates like Saudi Arabia and neighboring Gulf states.
The privatization committee said it would continue to engage investors in public-private partnerships and privatization partnerships in the water sector in the future
.
Saudi Arabia has suspended the process of privatizing the Ras Al Khair desalination and power plant, one of many state-owned assets the government aims to sell to ease capital expenditure pressures and diversify revenues away from oil
.
"This decision was made to leverage the knowledge and capabilities accumulated by our many years of experience in desalination, new technologies, research and development (research and development) and supply chains," said
the regulator for privatization of the Environment, Water and Agriculture Sector Committee.
"A new engagement strategy and plan
for the Saline Conversion Company (SWCC) assets, such as the Ras Al Khair plant, will be announced shortly," the company said in a statement on the website of the Saudi National Privatization Center on Monday.
”
Sources previously told Reuters that SWCC had hired consultants to help it sell its $7.
2 billion Ras Al Khair desalination plant
.
In January, it said it had invited seven companies and consortiums to bid for the plant, and the winning bidder is expected to own 60 percent of the project and be responsible for its management, operation and maintenance
.
Desalination is expensive and energy-intensive, but relies on
it in hot, water-scarce climates like Saudi Arabia and neighboring Gulf states.
The privatization committee said it would continue to engage investors in public-private partnerships and privatization partnerships in the water sector in the future
.
