The Supreme Economic Council yesterday announced plans to create a national water company in the Kingdom. The new company, which will be state-owned, will take over the groundwater sector, the collection and treatment of sewage water and the distribution of drinking water.
Minister of Water and Electricity Abdullah Al-Hosain announced the Supreme Economic Council’s decision in a statement yesterday. The Council is chaired by Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz.
The company will operate on a commercial basis, Al-Hosain said. It will begin operation within four months or its establishment.
Al-Hosain added that shares in the company would be offered for public subscription at an appropriate time.