The Saline Water Desalination Corporation (SWCC) has accelerated the procedures to privatize the world’s largest water and power plant in Ras Al-Khair in the Eastern Province.

The move is part of the SWCC initiatives to achieve the goals of the Kingdom’s Vision 2030, and to keep pace with national strategies that will form the basic engine of the economy. The plan is also in line with the Kingdom’s aspirations to attract domestic and foreign investment from the private sector.

The SWCC had earlier hired BNP Paribas as a consultant for the sale of the Ras Al-Khair desalination plant and other plants as part of a major privatization drive to reduce pressure on the government’s capital spending as well as to diversify government revenues away from oil.