Japan’s Mizuho Bank to advise on Saudi water sector privatization

Saudi Arabia’s Minister of Environment, Water and Agriculture, Abdulrahman Al Fadley, who also serves as chairman of the National Water Company (NWC), signed today a consulting agreement with Japan’s Mizuho Bank.

Under the agreement, the bank will advise on the privatization of the Kingdom’s water distribution sector, according to a company statement.

Mizuho Bank will lead an international consortium, including engineering consultancy Atkins Co. and law firm White & Case, in launching the procurement contracts.

The contracts, which will be valid for terms of three to seven years, will be launched in six regional sectors with the aim of attracting international companies in phase I. They will be revised into concession arrangements in phase II.

The step comes as part of the national strategy to privatize various government sectors, in line with the Saudi Vision 2030 and the National Transformation Program 2020.