MINISTER OF WATER AND ELECTRICITY ABDULLAH ALHOSAIN SAID THAT THE SUPREME ECONOMIC COUNCIL CHAIRED BY CUSTODIAN OF THE TWO HOLY MOSQUES KING ABDULLAH BIN ABDULAZIZ HAS ISSUED A DECISION APPROVING RESTRUCTURING OF THE SECTOR OF UNDERGROUND WATER, THE SECTOR OF POTABLE WATER DISTRIBUTION AND SANITARY DRAINAGE COLLECTION AND PROCESSING AFFILIATED TO THE MINISTRY OF WATER AND ELECTRICITY. IN A STATEMENT TO SAUDI PRESS AGENCY, HE SAID THE COUNCIL APPROVED TRANSFORMING THE SECTOR OF UNDERGROUND WATER, POTABLE WATER DISTRIBUTION AND SANITARY DRAINAGE COLLECTION AND PROCESSING WITH ITS VARIOUS COMPONENTS AND TECHNICAL AND ADMINISTRATIVE ELEMENTS TO A JOINT STOCK COMPANY NAMED "NATIONAL WATER COMPANY". THE COMPANY, WHOLLY OWNED BY THE STATE, SHALL COMMENCE ITS WORK WITHIN FOUR MONTHS OF THE DATE OF THE ISSUANCE OF THE DECISION OF ITS ESTABLISHMENT. THE COMPANY SHALL PROVIDE ALL THE SERVICES OF THOSE SECTORS ON A COMMERCIAL BASIS. THE MINISTER SAID THE DECISION CONTAINED A NUMBER OF ITEMS CONCERNING THE NECESSARY ARRANGEMENTS FOR THE ESTABLISHMENT OF THE COMPANY WHOSE SHARES WILL BE OFFERED FOR PUBLIC SUBSCRIPTION WHEN APPROPRIATE. THE MINISTER EXPLAINED THAT THIS MOVE BY THE STATE LED BY THE CUSTODIAN OF THE TWO HOLY MOSQUES REFLECTS THE STATE'S CARE FOR THE WATER SECTOR IN THE KINGDOM AND FOR IMPROVING THE PERFORMANCE LEVEL OF THE SECTOR IN LINE WITH THE COMPREHENSIVE PROGRESS IN THE KINGDOM.
