The power and water industry plays a key role in Saudi Arabia’s national development strategy. With an annual growth rate target of 7.5 percent, the value of the electricity, gas and water sector is set to ...
The power and water industry plays a key role in Saudi Arabia’s national development strategy. With an annual growth rate target of 7.5 percent, the value of the electricity, gas and water sector is set to grow to more than SR 21 billion in the next few years, accounting for almost 2 percent of the gross domestic product. As the first private integrated power and water utility company in the Kingdom, Marafiq finds itself at the spearhead of the national drive to privatise public enterprises that are economically viable and sustainable. In particular, it supports the national development plan of providing opportunities to finance, operate and maintain utility services in the power and water sector.
Marafiq is the utility lifeline to the industrial cities of Jubail and Yanbu. These two cities are a beacon of light on the Kingdom's journey of national economic development and privatisation. Jubail and Yanbu have been a resounding success in establishing an industrial support base and infrastructure to encourage domestic and international investment in primary and secondary industries, and provide job opportunities for Saudi nationals. With initiatives such as the formation of Marafiq to support major industrial developments, the Kingdom has been able to sustain its growth and development programme, keep pace with global economic changes and requirements and supply existing and future industries with essential services at competitive prices.
In a relatively short space of time, Marafiq has succeeded admirably in laying a solid foundation as a private enterprise with a customer-focused approach. It can look forward with confidence to continue building on its strong foundation of competitiveness, and to realize its vision to be the preferred supplier of utility services in the Kingdom.