Saudi Arabia localizes 90% of water components

Saudi Arabia has announced an investment of 2.8 billion riyals to localize 90% of the water industry components, which includes seven factories with an expected production value of up to 11.37 billion riyals by 2033. The initiative involves establishing factories for desalination plants and high-pressure pumps, increasing local content from 45% in 2020 to 68.27% in 2026, and enhancing manufacturing and export capacities. Additionally, the program aims to create over 12,000 jobs and export products to 27 countries. It relies on knowledge transfer and the development of local technologies to boost efficiency and reduce production costs, while improving supply chains and strengthening water security in line with Saudi Vision 2030.

Size: 120%Text Size

Notice: This Is an AI-Generated Summary

Display The Full Article