SWCC to receive bids for Ras Al-Khair plant privatization in Q2 2021: report

Saline Water Conversion Corporation headquarters

Saudi Arabia's Saline Water Conversion Corporation (SWCC) is set to receive bids for the privatization of Ras Al-Khair plant, Al-Arabiya TV reported, citing Ahmed Mohamed Al Amr, Head of Privatization, SWCC.

He added that the corporation will begin to receive bids from investors in the second quarter of 2021.

SWCC finalized the procedures of qualifying seven regional and global strategic alliances and companies to compete for the plant’s privatization, Al Amr said. In addition, some financial entities are set to join the alliances.

Al Amr also revealed that the remaining production assets are being studied, along with the offering of Ras Al-Khair plant, according to a timetable based on the preparedness of each group and in light of the market conditions.

In addition to the privatization process, the SWCC is also working on moving to operating on commercial bases, as well as increasing investments and boosting income from the corporation's production in the sale of converted water and electricity, thus giving momentum for its revenues.

Earlier in July, SWCC announced that it received interest from a total of 37 regional and global strategic and financial alliances and companies for the privatization of Ras Al-Khair desalination and energy plant, according to data available with Argaam.

It also announced last Thursday completing the procedures of qualifying the regional and global alliances for competing for the award of Ras Al-Khair production system.