The Board of Directors of the National Water Company held here today its First meeting under the chairmanship of Minister of Water and Electricity Eng. Abdullah Al-Hussein. Al-Hussein briefed the Board of Directors on offers pertaining to the privatization of the Water and Sewage sector as well as on the Company's organizational skeleton and statutes, its financial authorities, policies of human resources and the proposed motto of the Company. The participants of the meeting appointed Lu'ei bin Ahmad al-Muslim as the Company's Managing Director and Executive President. The Board of Directors approved signing of a contract with the French "Veolia Water" Company to undertake the management and operation of the water and sewage sector in Riyadh at a cost of about SR 240,336,947. The period of the contract is six years.
