3 Hrs
Source:
الاقتصادية
Saudi families amass $9B from water desalination
The article discusses the development of Saudi company "Aqua," one of the largest producers and desalination companies in the region, which is building a wealth exceeding $9 billion through investments in the water sector. Established in 2004 by Saudi families, it has expanded its activities to include large projects within the kingdom and abroad, especially in Asia and Africa. The company has maintained its position by relying on water desalination projects, which serve as a major driver of its revenue growth. Despite challenges such as armed conflicts and attacks on its facilities, "Aqua" believes that geographic diversification and product variety enhance its stability and protect it from security risks. With the ongoing global demand for clean water projects and the company's market value rising to $34.9 billion, "Aqua" exemplifies how Saudi family wealth is generated through strategic investments aligned with the Kingdom's Vision 2030 for economic transformation and renewable energy.
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