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FinancialNews


  • 25-01-21

    Saudi Arabia inks deal worth USD5.36M to reduce lost water

    (MENAFN)In the current month, Saudi Arabia’s National Water Co. (NWC) signed an USD5.36 million two-year contract with a French utilities company to decrease the quantity of water lost in the Kingdom’s water production process, known as non-revenue water in the industry.

    This is considered as great move, while water usage is increasing; provide is diminishing, according to a report released by global consultancy firm Oliver Wyman found. The study expected that 25 percent of the world’s population lives in areas that suffer extremely high water stress, and by 2050 that portion of the population will more than double.

    Bruno Sousa, a partner in the Energy Practice at Oliver Wyman, stated that “With water resources becoming increasingly scarce globally, the Middle East region is addressing the critical issues, with governments increasingly adopting new strategies for balancing their scarce water resources and growing demand for fresh water.”

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