Company executive signing the agreement
The Water Transmission and Technologies Co. (WTTCO) signed today, Jan 19, 2021, a cooperation agreement with Saline Water Conversion Corporation (SWCC) in the field of outsourcing management services.
The agreement entails a smooth and gradual transition for the management, operation and maintenance of water transmission systems to WTTCO, which will enable it to sign contracts with partners and work on a commercial basis, the company said in a statement.
Furthermore, the agreement will boost the efficiency and organization of the water sector, as well as develop the Kingdom's economy by adding more than SAR 60 billion worth of investment opportunities in water strategic transport and storage systems by involving the private sector in funding the future projects.
Under the agreement, SWCC will enable WTTCO to use its transport systems to perform assigned services and allow the employees to participate in related decision making. In addition, WTTCO will supervise the operation, maintenance and assignment of operations, and follow up on the progress of project implementation.
During 2021, WTTCO will complete its commercial activities, through activating systems and operations, governance of procedures, preparing support services, as well as signing commercial deals and taking delivery of operating assets. Meanwhile, the company's plan for 2022 includes improving and upgrading operational efficiency and slashing capital cost.
In September 2019, the Saudi Cabinet approved to set up WTTCO as a state-owned company, Argaam reported.
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