Sarah Glubb and Nirmal Narayanan

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.

نسعد في #صندوق_الاستثمارات_العامة بموافقة مجلس الوزراء على نقل أصول المؤسسة العامة لتحلية المياه المالحة لشركة حلول المياه المملوكة بالكامل للصندوق https://t.co/dqq1GZznh0

— صندوق الاستثمارات العامة (@PIFSaudi) June 21, 2022

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. 

أرفع الشكر لمقام خادم الحرمين الشريفين وسمو ولي العهد – حفظهما الله – على صدور قرار مجلس الوزراء بنقل أصول مؤسسة التحلية إلى "حلول المياه" وسيحقق القرار نقطة تحوّل وانطلاقة لعصرٍ جديد؛ أهم سماته الارتقاء بالخدمة و الاستدامة، وتعظيم فرص الاستثمار لتحقيق الريادة عالمياً.

— عبدالرحمن الفضلي (@AlfadleyA) June 21, 2022

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.