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Saudi Arabia allocates $104.7 billion for water sector projects

  • Saudi Arabia allocates $104.7 billion for water sector projects

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The Ministry of Environment, Water and Agriculture of Saudi Arabia has approved SR393 billion ($104.7 billion) for 3,300 development projects in the water sector, announced minister Abdul Rahman bin Abdul Mohsen Al-Fadhli.

Arab News reports that Abdul Rahman Al-Fadhli explained that the Ministry is presently working on various stages of the supply chain: to either implement, award or purchase the service from the private sector.  

He also said that 2,000 of the 3,300 projects that have a cost of around SAR 210 billion ($56 billion) have already secured funds.  

During his participation in Al-Ahsa Forum 2023, Al-Fadhli remarked that this announcement is made as Saudi Arabia’s agricultural sector is experiencing a boom, with the sector contributing to the gross domestic product by SR72 billion in 2021.

The agriculture sector has approved as much as SR91 billion to implement initiatives, programs and incentives for farmers, the minister revealed, which will drive the efficiency and development of the agricultural and food sector.

Al-Fadhli said that the initiatives announced will also contribute to attracting investments estimated at over SR159 billion.

The projects include the addition of a desalination plant on the country’s eastern coast with a capacity of 800,000 cubic meters per day and the expansion of water supply networks in Saudi Arabia to over 3.5 million cubic meters per day.

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