Kingdom Develops Water Sector Locally
Saudi Arabia has announced the launch of a plan to transform the water sector from reliance on imports to an integrated national industry by localizing 18 key components of this sector. The initiative includes signing agreements to build seven factories with investments amounting to up to 2.8 billion riyals. It aims to meet the expected local demand, which exceeds 15 billion riyals by 2033, while also supporting regional demand, which reaches 65 billion riyals. The program focuses on technology transfer, research and development development, and building national capabilities, while increasing local content from 45% in 2020 to 68.27% in 2026. This approach also contributes to greater dependence on domestically manufactured products and the export of some technologies to 27 countries, thereby enhancing the Kingdom’s position as a regional hub for water technology manufacturing and sustainable development.
Notice: This Is an AI-Generated Summary
Comments (0)