Saudi PIF-owned firm plans $29bn worth of water projects By Pramod Kumar August 7, 2022 Creative Commons National Water Company's new projects will significantly complement the sustainability of water and environmental services in Saudi Arabia Saudi Arabia’s National Water Company (NWC) intends to tender 1,429 projects worth more than SAR108 billion ($28.80 billion), the state-owned utility services provider said in a statement. The announcement by NWC, which is owned by the Saudi sovereign wealth fund, Public Investment Fund (PIF), continued the company’s plans to develop water and environmental infrastructure projects across the kingdom. NWC acting CEO Nemer M. Al-Shebl said the plan will significantly increase the water and wastewater coverage in all Saudi regions following the completion of these projects. Makkah will see the implementation of 353 projects worth SAR38.96 billion, followed by Riyadh with 240 projects of SAR14.19 billion. The Asir, Jazan, Najran and Al-Baha provinces will have 328 projects worth more than SAR15.3 billion, while 162 projects, costing over SAR7.7 billion, will be launched in Madinah and Tabuk regions, the statement added.