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Saudi’s SWCC inks deal to supply desalinated water to NEOM

Saudi’s SWCC inks deal to supply desalinated water to NEOM
Saudi’s SWCC inks deal to supply desalinated water to NEOM
SAUDI ELECTRICITY
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11.75% 19.78 2.08

Riyadh – Mubasher: The Saudi Saline Water Conversion Corporation (SWCC) on Monday signed a 36-month agreement with a subsidiary of the Saudi Electricity Company (SEC) to provide the country’s $500 billion project NEOM with desalinated water.

The deal includes building an electricity substation, SWCC said in a statement, noting that the electric capacity in the desalination plant will be 40 mega volt-ampere.

In October 2017, Saudi Crown Mohammed bin Salman announced a plan to build the $500 billion NEOM mega city in the north western part of the kingdom.

He also revealed that large international companies such as Amazon.com Inc., Alibaba Group, and Airbus Group were planning to invest in NEOM.

In August last year, Saudi King Salman bin Abdulaziz met with the Cabinet for the first time in NEOM.

In January, NEOM’s board approved the master plan for developing the first urban area. Later that month the kingdom, the board announced launching NEOM Company.

NEOM is part of the Saudi Vision 2030 reform plan, which aims to diversify the kingdom’s economy and invest heavily in its infrastructure.