- Title: Saudi awarded world record at water investment conference
- Date: 27th November 2016
- Summary: ***WARNING CONTAINS FLASH PHOTOGRAPHY*** VARIOUS OF SIGNING OF COOPERATION AGREEMENTS BETWEEN MINISTRY OF WATER AND AGRICULTURE AND THE PRIVATE SECTOR IN SAUDI ARABIA AND FOREIGN COUNTRIES FOR NEW PROJECTS AND DEVELOPMENTS
- Embargoed: 12th December 2016 14:35
- Keywords: Saudi Arabia Riyadh water investment agriculture record
- Location: RIYADH, SAUDI ARABIA
- City: RIYADH, SAUDI ARABIA
- Country: Saudi Arabia
- Topics: Environment
- Reuters ID: LVA0025A7XT1X
- Aspect Ratio: 16:9
- Story Text: The two day Water Investment Forum kicked off in Saudi Arabia on Saturday (November 26), aiming to stimulate investment in the private sector and improve the Kingdom's water security.
The forum is part of Saudi's 2030 vision to overhaul its economy, reduce dependence on oil and reform its water and energy sectors, among other objectives.
Speaking at the forum, the Minister of Environment, Water and Agriculture, Abdulrahman Al Fadley, said the Kingdom has ambitious plans for the coming years.
"The Water Investment Forum, which kicked off today, comes at a time for the Kingdom when it is living under the visions and ambitious programs to promote the private sector participation in development projects, and to achieve sustainability and water security," he said.
"Concerning desalinated water production, a number of investment opportunities is currently being put forward to the private sector by contributing to build future plants as well as the Saline Water Conversion Corporation program to reach double the amount of desalinated water produced during the next fifteen years to meet the growing demand for water," he added.
The scale of Saudi's desalination project is such that the Saline Water Conversion Corporation was presented with an award by a Guinness World Records representative for breaking two records. The first for the largest desalination company and the second for having the largest desalination plant in the world.
Saudi Arabia also announced last week plans to establish a national program to optimise water and energy consumption.
As part of the reform drive, the Kingdom aims to reduce electricity and water subsidies by 200 billion riyals by 2020.
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