DAMMAM: The Yanbu Desalination Plant will soon be privatized, Fehaid Al-Sharief, governor of the Saline Water Conversion Corporation (SWCC), announced at a press conference here yesterday. A taskforce comprising commercial consultants, technicians, legal experts and other specialists will be set up to convert the plant into a company prior to its privatization, he said.
Al-Sharief was talking to reporters after launching a digital distribution system, a production management system and warehouse management system for desal plants in Alkhobar. “The next step will be the restructuring of the SWCC, which will become a holding company,” he said. He said the corporation would witness a number of changes in the process but none of its staff would be hurt. Instead, the staff will get many benefits and incentives, he added. He expected the privatization of SWCC to commence early next year and said Custodian of the Two Holy Mosques King Abdullah, chairman of the Supreme Economic Council, has already approved the privatization plan.