RIYADH: Major British companies operating in the water and environmental sectors have set out a new vision for business relationships with Saudi government agencies and private companies, amid reports of multibillion dollar investments to be made by the Kingdom in these sectors over the next five years. “British companies would like to cooperate with the Kingdom to lend their expertise and technical know-how in the fields of water and environment,” said Andrew Turner, charge d’affaires at the British Embassy, here Sunday night.
“Britain has experience in managing and working in water sector all over the world, and British companies are aware of the challenges and obstacles faced by the Kingdom in these sectors,” Turner said during a reception hosted by the embassy in honor of the visiting British business mission. Plans have been made to generate and provide the Kingdom with five million cubic meters of processed waste water in the coming seven years, as per a report by the Ministry of Water and Electricity.
The Saudi government is allocating over SR150 billion for developing the water sector and the sewage system in the coming two decades, said the report. The British companies are more active and optimistic since a new national water company with a start-up capital of SR22 billion has also been formed with a mandate to privatize the water and sewage sector. “Hence, we have brought this large water and environment delegation to the Kingdom,” said Jeremy Goad, an international business specialist, working for the UK Trade & Investment (UKTI), a UK government agency.
He said that the UKTI was pleased to support the delegation that would be in the Kingdom until Feb. 4. Goad said that the delegation is currently holding seminar presentations and meetings with Saudi officials and key business contacts. The delegation is composed of 10 water and seven environmental companies, which are featuring their knowledge and experience, the UK can bring in these growing and increasingly important sectors. Goad and Lila Webley, international director at the London-based British Water Association, are leading the water group, while environmental companies are led by Andrew Wilson of Business to Business enterprise.
Prominent water companies include United Utilities, the UK’s largest listed water and wastewater company that has a turnover of over $4 billion and providing utility services to over 20 million people worldwide, as well as Severn Trent, an FTSE-listed company that has a turnover of over $2 billion and providing water and wastewater services to over 11 million people in Europe and the US. All companies in the delegation are looking to identify potential business partners in the Kingdom of Saudi Arabia.
The delegation will conduct a seminar in Al-Sharqiyah in Dammam today.
