Kingdom to Invest 11B Riyals in Water Industry Localization
The Saudi Water Authority has announced the launch of a new phase in the localization of the water industry, aiming to manufacture 18 key components that constitute approximately 90% of the supply chain elements in the sector. This initiative seeks to transform the Kingdom from a consumer and importer into a locally manufacturing and developing nation, in line with the domestic demand exceeding 15 billion riyals by 2033. There is also a regional export plan following the establishment of seven new factories with investments totaling up to 2.8 billion riyals. Additionally, three agreements have been signed to commence operations of these factories, increasing the local content from 45% in 2020 to 68.27% in the first half of 2026. The project also targets creating 3,090 specialized jobs and reducing costs by between 20% and 30%. This initiative is part of a national strategy supporting Saudi Vision 2030 and its programs to boost local content, reduce reliance on imports, and produce technologies such as reverse osmosis membranes and high-pressure pumps. These efforts aim to enhance sector efficiency and generate economic returns estimated to reach 4.36 billion riyals by 2033.
Notice: This Is an AI-Generated Summary
Comments (0)