The National Water Company (NWC) announced, that it has concluded a Long-Term contract with the Spanish Aguas de Valencia Company to rehabilitate, operate, and maintain STPs in Taif for 15 years and are worth more than SAR 555 Million.

The contract is based on the objectives of National Water Strategy concerned with attracting the private sector to contribute in the investment opportunities involving the rehabilitation, operation and maintenance of NWC strategic assets, and increase investments in the water sector, as part of an innovative model of investment agreements.

Dr. Fuad Alsheikh Mubarak, NWC CEO, signed the contract with Severino Ramos Aparici, General Manager of Aguas de Valencia, in the premises of NWC in Jeddah with the attendance of the executives of both parties.

NWC said “the value of the contract signed with Aguas de Valencia Company is more than SAR 555 million (some USD 148 million), with a levelized tariff of SAR 0.67/m3, i.e. about USD 0.18/m3”. The company indicated that the contract scope aims at rehabilitation, operation, and maintenance of Two STPs in Taif City with a total treatment capacity of 147,000 m3/day. NWC added that it has completed of signing 8 contracts under LTOM program is under the NWC strategic plans for existing environmental treatment plants (STPs).

The company revealed that the LTOM program is continuing, as NWC intends to offering (113) existing treatment plants with a total capacity of 2.4 million m3/day starting in 2024. These contracts are investment opportunities open for local and international companies. The company added that these partnerships will attract important consortia, with the goal of rehabilitating existing assets for 15 years with capital investments at competitive prices.

NWC announced that through these contracts, the company aims to support the national economy by enabling expansion and growth in the water sector and creating opportunities and long-term partnerships with local and international private sector companies. Another goal is to attract and localize new technologies and transfer knowledge to Saudi professionals. Additionally, it said, the opportunities in water sector attract capital into Saudi Arabia, as they are offered as part of an innovative partnership model that interests water sector local and global operating consortia.