Consultants extend validity of bids for Saudi water privatisation

14 August 2008
Six out of seven companies selected as consultants on the privatisation of Saudi Arabia's Saline Water Conversion Corporation have extended the validity of their bids at the request of the client.

The eighth firm is also expected to confirm the price it submitted for the work a year ago.

The consultants will be issued with letters of intents by SWCC and it is understood that the privatisation process will be launched within two months.

The US' Booz & Company is the strategic adviser on the privatisation and is also responsible for change management. Germany's Fichtner is the technical adviser and HSBC is the financial adviser. Freshfields Bruckhaus Deringer is the legal adviser, while KPMG of The Netherlands is to advise on accounting and Canada's Hay Group on human resources. The US' Ernst & Young is the information technology adviser.

The privatisation will restructure SWCC into a holding company and several production units. The production units will bundle together new and existing water plants (MEED 11:7:08).

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