Saudi gov’t approves $24.5bn support for water, agriculture, environment

Saudi Arabia has approved financial support for the environment, water and agriculture sectors worth 92 billion riyals ($24.5 billion) to help them meet their goals under the government's 2030 economic plan, the minister handling the sectors said on Sunday.

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Saudi Arabia has approved financial support for the environment, water and agriculture sectors worth 92 billion riyals ($24.5 billion) to help them meet their goals under the government’s 2030 economic plan, the minister handling the sectors said on Sunday.

Abdulrahman al-Fadhli, minister for environment, water and agriculture said in a speech at an industry conference his ministry had received “support” from the government to achieve 16 strategic goals which are in line with the economic transformation programme Vision 2030.

Fadhli did not give further details on the 16 goals.

Vision 2030 aims to diversify the economy by reducing dependence on oil revenues.

At the event, the government-owned Saudi Saline Water Conversion Corp (SWCC) signed a memorandum of understanding with Saudi Aramco Energy Ventures to develop new technologies in water and power.

SWCC also signed another memorandum of understanding with Hydrochem Saudi Arabia, a wholly owned subsidiary of Singapore’s Hyflux Group for water desalination projects in the kingdom.

One of the programmes of the Vision 2030, the National Transformation Plan listed spending worth 13.94 billion riyals to the Ministry of Agriculture and another 12.92 billion to the Ministry of Water and Electricity. More info

By Reuters  www.arabianbusiness.com

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