The National Water Company (NWC), a new entity of the Saudi Arabian government, will have an initial paid-in capital of $6bn, Deputy Water & Electricity Minister Loay al-Musallam said.
Capital will rise to $20bn as the company expands beyond its sewage treatment networks in four cities takes, he said.
The NWC will take over the networks in Riyadh, Jeddah, Medina and the Al-Khobar/Dammam conurbation in January 2008 in preparation for the privatisation of all four cities’ sewage networks.
“The NWC will act as the procurer for all treated effluent emerging from the privatised system,” Al-Musallam told MEED’s Wastewater Treatment & Reuse 2007 conference.
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