JEDDAH, 24 July 2007 — The Ministry of Water and Electricity (MoWE) is staging a road show focusing on business opportunities in water and wastewater in Jeddah city, at the Jeddah Hilton today.
Being held with the support of Minister of Water and Electricity, the event will feature discussion on important business opportunities related to Jeddah city’s water and waste water services and the qualifying process for interested parties.
Deputy Minister for Planning and Development (Head of Privatization Team) Loay ibn Ahmad Al-Musallam said the objective of the road show was to present the opportunities available for private investors in the water and wastewater sector in the Kingdom. The organization of the road show is part of the efforts by MoWE to attract national and international companies to invest in the sector.
He pointed out that the MoWE’s privatization program of water and wastewater sector was making good progress and on schedule as per its plan.
The ministry received a tremendous response for participation in the road show from national and international companies as well as those who are interested in the water sector, he said. MoWE has also created a website (www.nwc.com.sa) which contains the required information on the road show and the privatization projects currently in progress.
According to Al-Musallam, those prequalified companies intending to enter the bidding process of the management contract for water network and wastewater collection in Riyadh submitted their offers on July 14. The evaluation of these offers by the privatization team is under way. The process is expected to be completed for signing of the contract with the successful bidder in the fourth quarter of 2007. All these contracts are to be signed by National Water Company (NWC), the formation of which is in the final phase.
Saudi Research and Publishing Co., Ernst Young Consulting, CRA International, HSBC, Freshfields Bruckhaus Deringer, Hyder and Al-Jadaan Law Firm are among its supporters.