Introduction
Introduction of Saudi Water Partnership Company (a single member limited liability company)
The resolution of the Council of Ministers No. 494 dated 5/8/1438H extended the
scope of the work of the Company as the Principal Offtaker of water to include
the purchase of desalinated, purification, treated and untreated water in addition
to co- generation, and the Minister of Finance provides the credit support to the
Company to support its financial solvency of the signing of long-term purchase
contracts within the framework of the principles stated in the Council of Ministers
Resolution No. (181) dated 9/6/1425H, in accordance with the terms and
conditions set by the Minister of Finance, the transfer of ownership of the
company in full to the Government, with the agreement on corporate governance
and contracted projects. Company Objectives History of the company Earlier, following the Resolution 5/23 of Supreme Economic Council, the company
was established as a Limited Liability Company (LLC) in 2003, owned 50% each by
Saline Water Conversion Corporation and Saudi Electricity Company, where the
main purpose of the establishment of the company was to purchase water and
electricity from private sector projects and sale of water to Saline Water
Conversion Corporation and electricity to Saudi Electricity Company.
The Ministry of Finance owns fully (100%) the Saudi Water Partnership Company
and the Company's capital is SR (100,000,000) One Hundred Million Saudi Riyals.