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NWC lands 30 year water supply deal with Tabreed

Massive $266m contract for long term water supply for cooling project

NEWS, Projects

RELATED ARTICLES: Tabreed registers net profit of $35.3m in Q3 2011Tabreed says $200m Islamic bond is fully repaid Tabreed sees Q1 gross profits jump by 21% in 2011

The National Water Company (NWC) has signed a SR1 billion ($266m) deal with Saudi Tabreed Cooling, part of the Meyhana Group, for the daily supply of 36,000m3 of water for 30 years.

Dr Lowai Al-Musallam, the NWC Executive President and Dr. Waleed Abdul Rahman, Chairman of the Board of Directors of Meyhana, signed the agreement on Wednesday. The contract is NWC’s largest contract to supply treated water.

The water will be pumped to Jabel Omar Company in Makkah, to be used in the company’s cooling system.

Al-Musallam said this was the best type of water for industrial, agricultural and commercial purposes because of its cost-effectiveness. He said the agreement will increase the demand for treated sewage water for industrial purposes.

He said multinational companies are keen to invest in the Kingdom because of the considerable support provided for investors by the Saudi government.
 

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