New strategy for Saline Water Conversion Corporation to be announced soon RIYADH: Saudi Arabia has suspended the privatization of Ras Al Khair Desalination and Power Plant as it reviews its strategy. This decision was made to capitalize on knowledge and capacity built in the Kingdom as a result of many years of experience in the areas of water desalination, new technologies, R&D and supply chains, the Privatization Supervisory Committee for the Environment, Water and Agriculture said in a statement on Monday. A new engagement strategy and plan for the Saline Water Conversion Corporation (SWCC) assets such as Ras Al Khair plant will be announced shortly. “It is either that the outcome was not aligned with the government spending efficiency goals or it’s not a top priority for the time being, as there is price control on water services in the country that doesn’t allow room for enough profits to the private operators, that the government may need to offer significant subsidies to make the PPP project attractive to the private sector, ” Razeen Capital CEO Mohamed Alsuwayed told Arab News. The Privatization Committee said it will continue to engage investors in future PPP and privatization transactions in the water sector, and new greenfield investment opportunities will be launched in due course. Saline Water Conversion Corporation (SWCC) invited seven pre-qualified companies and strategic alliances to submit their bids (RFP) to participate in the Ras Al-Khair desalination and power plant’s privatization process, last January. SWCC said in a statement that the winning consortium will own 60 percent of the project company, and will handle management, operation, and maintenance works. For now, SWCC will continue to manage it, according to the statement.