(MENAFN) According to the CEO of the Kingdom's Saline Water Conversion Corp., it might take up to three years to transfer SWCC's investments to the PIF-owned Water Solutions Co.
The privatization of SWCC is going to be stopped, and all of its investments would be transferred to WSC, the Saudi administration declared yesterday.
SWCC Governor Abdullah Al Abdulkarim remarked in an exclusive interview with Arab News: “We are planning to do it within 18 to 20 months, but it might take three years.” On the other hand, the biggest desalination corporation in the world is SWCC.
The Saudi cabinet's decision, he continued, is going to enable WSC to become the industry leader globally while also enabling SWCC to improve its services within the Kingdom.
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