Story perspectives

Saudi water program attracts $747M, adding 3,090 jobs

9/7/2026

Summary

Story summary

Saudi Arabia's Investment Fund launched Gulf Coast Development Company to build a tourist-residential destination in Al-Khafji.
Minister of Investment Ibrahim Al-Mubarak leads a delegation to China September 6-12 to expand investments in industry, energy and infrastructure.
Saudi Arabia’s Water Industries and Services Localization Program attracted $747 million for six projects, adding seven factories.
The water projects will add $1.16 billion to GDP, create 3,090 jobs and cut component costs 20-30% by 2033.

History

Historical Context

In 1975 Saudi Arabia commissioned the Shuaiba desalination plant, its first large-scale unit, producing about 120,000 m³ of water daily—around 5 % of national demand. Operated by the Saline Water Conversion Corporation, the plant launched a sector that now provides half of municipal water. Minister Ibrahim Al-Mubarak’s Localization Program now seeks $747 million for six new plants, targeting $1.16 billion GDP growth and 3,090 jobs by 2033.

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Story summary

Saudi Arabia's Investment Fund launched Gulf Coast Development Company to build a tourist-residential destination in Al-Khafji.
Minister of Investment Ibrahim Al-Mubarak leads a delegation to China September 6-12 to expand investments in industry, energy and infrastructure.
Saudi Arabia’s Water Industries and Services Localization Program attracted $747 million for six projects, adding seven factories.
The water projects will add $1.16 billion to GDP, create 3,090 jobs and cut component costs 20-30% by 2033.

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